Final answer:
To find the cost of each item sold by the Student Council, set up a system of linear equations based on the given sales data and solve it using appropriate algebraic methods.
Step-by-step explanation:
How to Determine the Cost of Each Item
We have a system of equations representing the sales from Monday, Wednesday, and Friday. We can denote the price of t-shirts as T, pom-poms as P, and caps as C. The system of equations based on the given sales data is:
40T + 20P + 10C = $850 (Monday's sales)
30T + 25P + 15C = $800 (Wednesday's sales)
50T + 30P + 10C = $1050 (Friday's sales)
To solve for T, P, and C, we can use methods such as substitution, elimination, or matrix operations to find the unique solution that satisfies all three equations. This will provide us with the individual cost of each item sold by the Student Council.