1. An event promoter in Antigua is selling tickets to her all-inclusive Carnival fete for $150.00 each. She has rented a venue at a cost of $3500, and will incur other fixed costs for a DJ ($1000), MC ($500), stage ($3,000), event staff ($4,000), insurance ($500), and marketing ($2,500). The variable costs include drinks ($30 per person), and food ($45 per person).

a) What is the revenue function for the event?

b) What is the cost function for the event?

c) Calculate how many tickets need to be sold in order for the event to break even.

If the promoter, sells 500 tickets:

i. Calculate the revenue

ii. Calculate the cost

iii. Calculate the profit