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In a month, I can sell 420 of my unlicensed Warriors T-shirts at a price of...

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Accounting

In a month, I can sell 420 of my unlicensed Warriors T-shirts ata price of $12. At $18, I sell 180. The T-shirts cost me $8 each,and I bribe the local law enforcement $300 per month to use acorner near a BART station to sell my shirts.

1. Assume price-demand is linear

a. Find the slope of the price-demand function.

b. Find the vertical-intercept of the price-demand function.

c. Write a function to predict demand (in a month) given anyprice.

d. Predict the demand at a price of $10.

e. What price fetches a demand of 800 shirts?

2. Assume cost is linear.

a. Write a function to predict cost (in a month) given anyprice.

b. Predict the cost at a price of $10.

Answer & Explanation Solved by verified expert
3.6 Ratings (511 Votes)
Pricedemand is linear slope of the pricedemand function 4201801218 40 Verticalintercept of the pricedemand function 1240420 or 1840180 900 Function to    See Answer
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