Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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

Blank 1

200

$1,700

$1,200

$2,900

Blank 2

300

$1,700

$2,700

$4,400

Blank 3

400

$1,700

$5,200

$6,900

Blank 4

500

$1,700

$9,000

$10,700

Blank 5

600

$1,700

$15,000

$16,700

Blank 6

700

$1,700

$23,800

$25,500

Blank 7

800

$1,700

$36,800

$38,500

Blank 8

900

$1,700

$55,800

$57,500

Blank 9

1,000

$1,700

$83,000

$84,700

Blank 10

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Econometric Analysis

Authors: William H. Greene

5th Edition

130661899, 978-0130661890

More Books

Students also viewed these Economics questions