To model the fundraising situation for the Lakewood baseball team selling T-shirts, we need to establish two equations: one for the costs and another for the revenue from selling the shirts.
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Cost Equation: The total cost (y) to produce x shirts includes a fixed setup cost of $100 and a variable cost of $10 per shirt. The equation for the total cost is:
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Revenue Equation: The total revenue (y) from selling x shirts at a price of $15 each is given by:
So, the two equations that model this situation are:
(cost equation) (revenue equation)