c. $1 d. $15 16. Luke is arranging for a party to be held in the students' union. The use of the hall will be free but security costs of $300 will have to be met. The cost of the main band will be $2,500 and the supporting band will cost $450. Tickets will be priced at $15 each. On arrival, every ticket holder will be given a bottle of water, worth $1 per bottle. What is the break-even number of tickets for this event? a. 179 tickets b. 167 tickets c. 217 tickets d. 233 tickets 17. Luke is arranging for a party to be held in the students' union. The use of the hall will be free but security costs of $300 will have to be met. The cost of the main band will be $2,500 and the supporting band will cost $450. Tickets will be priced at $15 each. On arrival, every ticket holder will be given a bottle of water, worth Si per bottle. If Luke sells 400 tickets as he anticipates, what profit will he make? a. 3,085 b. 2,505 c. 5,600 d. 2,338 18. Which of the following is a definition of break-even point? a. The difference between the selling price of a product and the variable costs incurred in producing that product b. The fixed plus variable costs of the business c. The situation where neither a profit nor a loss is made d. The situation where a profit is made 19. Jenny expects to produce and sell 7,000 units at $15 each. Each unit will cost her 59 to produce and fixed costs will be $60,000 per annum. What is the break-even point in units? a. 6,667 units b. 4,000 units c. 10,000 units d. 1,000 units