Question
During their summer summer break, a group of teachers build canoes in a converted barn. The rental for the barn is $1500 for the summer,
During their summer summer break, a group of teachers build canoes in a converted barn. The rental for the barn is $1500 for the summer, and the materials needed to build a canoe is $250. The canoes can be sold for $375 each.
A) How many canoes must the teachers sell to break even?
B) How many canoes must the teachers sell to make a profit of $1000?
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
