Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A vendor on Peachtree sells bratwurst hot dogs for $4.70. His cart is open from 9 - 5, Monday through Friday. His variable costs average

A vendor on Peachtree sells bratwurst hot dogs for $4.70. His cart is open from 9 - 5, Monday through Friday. His variable costs average $0.75 per hot dog (depending mostly on toppings). He is considering a price decrease to $4.35. Calculate the percent profit breakeven metric for this price change. Report your answer as a percentage (whole number) and round to the nearest percentage point.

The correct answer is 10

How is this the correct answer? Thank you

When I first tried to solve this problem I got the answer 9 but that was incorrect. Can you please explain to me how 10 is the correct answer? Thank you.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations of Marketing

Authors: William M. Pride, O. C. Ferrell

3rd Edition

618973370, 547154569, 9780618973378, 978-0547154565

More Books

Students also viewed these Marketing questions