Answer:
Profit= $5200
Explanation:
let the short sleeved shirt be x and long sleeved shirt be y then according to the given conditions 30x+45y=240(60) minutes---A
also x+y=400------B
multiplying b with 30 gives
30x+30y=12000------C
subtracting C from A 15y= 2400
y= 160 long sleeved shirts and x= 240 short sleeved shirts are made
Profits= 240*11+160*16=$5200
Answer and Explanation:
The red and the convertible cars would be considered similar i.e. they are perfect substitutes also the car and the convertible car would be the substitutes but it is not a perfect as the convertible car would be the subset of the car group plus the expenditure made on the convertible car would be high so here the elasticity is more