Answer:
a. Based on this information, construct a linear demand equation for Yoda vs. Alien T-shirts, and hence obtain the weekly revenue R as a function of the unit price x.
- y = 640 - 80x ⇒ demand equation
- xy = - 80x² + 640x ⇒ weekly revenue
b. The university administration charges the fraternities a weekly fee of $500 for use of the Student Center. Write down the monthly profit P as a function of the unit price x, and hence determine how much the fraternities should charge to obtain the largest possible weekly profit. What is the largest possible weekly profit?
Step-by-step explanation:
first, we must determine the slope = (400 - 240) / (3 - 5) = 160 / -2 = -80
the demand equation:
y - 240 = -80 (x - 5)
y = -80x + 400 + 240
y = 640 - 80x
total weekly revenue:
xy = -80x² + 640x
xy - 500 = -80x² + 640x - 500
max. profit ⇒ x = -640 / (2 x -80) = -640 / -160 = 4
maximum weekly profit = -80($4²) + 640($4) - $500 = -$1,280 + $2,560 - $500 = $780
I don’t understand your question
Yes the supervisor’s calculation is correct because you add the numbers and get 11,000
I think for A it is either 54-p=? or 54 divided by p
