Problem: The Public Budgeting and Finance Association is planning their annual conference. The conference hotel has quoted the following prices for services (all prices include tax and service charges):

Thursday afternoon	Conference facilities rental: $650
	Coffee-break service: $15 per person
	Audiovisual equipment rental: $100
	Evening reception: $35 per person
Friday	Conference facilities rental: $950
	Coffee-break service, morning and afternoon: $25 per person
	Continental breakfast: $15 per person
	Luncheon: $22 per person
	Audiovisual equipment rental: $300
Saturday morning	Conference facilities rental: $650
	Continental breakfast: $15 per person
	Coffee-break service: $15 per person
	Audiovisual rental: $100

Program materials and marketing would cost about $600. The association charged $155 for each participant last year and would like to use the same price this year.

Determine the:

1. fixed cost;

2. variable cost; and

3. the break-even attendance level for the conference.

Suppose the association wanted to encourage student participation by charging a rate that would cover only the costs directly caused by their attendance. What price would you charge?