Date: Answer the following questions showing the formula/work used to calculated each answer (11 marks knowledge mark):| 1. Bob's Pita Pit has fixed costs $1,000 a day to operate and each pita sells for $8. Each pita costs Bob $4 on average. How many pitas will Bob have to sell to break even? 2. Theo owns a house cleaning business. He estimates that he has the labour to clean ten houses in one day. His costs will be $800 for the day. What price does Theo have to charge just to break even? 3. Margaret wants to achieve a sales goal of 15% of all sales in her industry. She sold $300,000. If the total value of all sales in her industry were $2,500,000, did she meet her goal? If Margaret sold $200,000 in the industry of $2,500,000, what would her percent of the total market be? 5. Trevor makes custom baseball bats for the professional league. Each baseball bat costs $35 to produce and sells for $100. It also costs Trevor $100,000 in other expenses to run his company. If he produced and sold 2,000 bats, what is the profit or loss Trevor has made? 6. Aditi has increased the price she charges her customers to cut their lawns to $30. If it still costs her $20 per customer, what is her profit margin? 7. If Aditi's cost went up by 10% and she still charged the same price to her customers, what is her profit margin now? 8. Michael has made $4,000 profit on an investment of $32,000. What is the rate of return he has made? 9. Based on the same investment in question 8, if Michael wants to make a rate of return of 25%, what amount of profit does he have to make? 10. Monique has worked hard and saved up enough money to open her own hair salon. She believes the local hair salon market in her neighbourhood is roughly $1,000,000. She is aiming to capture 4% of the market share in her first year. How much revenue is Monique expecting to bring in for her first year of business? 11. In her second year, Monique thinks she can capture 6% of the market share and the whole market itself will have already grown by 5%. How much revenue is Monique expecting to bring in for her second year of business