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Lances Diner has a hot lunch special each weekday and Sunday afternoon. Food and other variable costs for the lunch are $4.10, and the daily
Lances Diner has a hot lunch special each weekday and Sunday afternoon. Food and other variable costs for the lunch are $4.10, and the daily fixed costs are $1,200. Lance has an average of 500 customers per day. |
a. | What is the lowest price Lance should charge for a special group of 200 that wants to come on Saturday for a family reunion? |
b. What should be the lowest price Lance charges on a normal weekly basis? (Round your answer to 2 decimal places.) |
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