You are serving as the chair for your community's annual wellness campaign. A key event is the annual Walk 3K, Run 10K, Ride 20K event. The event is staged entirely by volunteers and the goal is to attract community-wide awareness of getting active as a key step to wellness. In other words, the goal is not to raise money, but to prompt awareness. As the chair, you set a financial goal to break even on the one and only cost of the event, a fitness bag with the community seal and the event motto, "I AM ON THE RIGHT TRACK!" The cost of the bags, which must be ordered in batches of 100, are; Bags Fixed Cost Variable Cost. Total Cost Marginal Cost 0 $1,700 $- $1,700 100 $1,700 $500 $2,200 200 $1,700 $1,200 $2,900 300 $1,700 $2,700 $4,400 400 $1,700 $5,200 $6,900 500 $1,700 $9,000 $10,700 600 $1,700 $15,000 $16,700 700 $1,700 $23,800 $25,500 800 $1,700 $36,800 $38,500 900 $1,700 $55,800 $57,500 1,000 $1,700 $83,000 $84,700 Question2 Bags Fixed Cost Variable Cost Total Cost 0 $1,700 $- $1,700 100 $1,700 $500 $2,200 200 $1,700 $1,200 $2,900 300 $1,700 $2,700 $4,400 400 $1,700 $5,200 $6,900 500 $1,700 $9,000 $10,700 600 $1,700 $15,000 $16,700 700 $1,700 $23,800 $25,500 800 $1,700 $36,800 $38,500 900 $1,700 $55,800 $57,500 1000 $1,700 $83,000 $84,700 Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of bags that you should order? Orders must be placed in blocks of 100 bags. Please select any/ all viable approaches below: Use the profit maximizing rule, MR MC, buy 300 bags. Use the profit maximizing rule, MR MC, buy 200 bags. Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 300. Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 200. Question 3 Your marketing department just undertook a major advertising campaign promoting the quality of your Best Brand Bike ShortsBBB Shorts. They have provided you with an estimate of the success of the campaign stating: "the price elasticity of demand has decreased from-5.76 to -3.76." Before the campaign, your price was $240 per pair of BBB Shorts.What should the new price be? Please enter the new price here: $ [a]