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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.
- 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 breakeven on the one and only cost ofthe event, a fitness bag with the community seal and the event moto, "I AM ON THE RIGHTTRACK!
The cost of the bags, which must be ordered in batches of 100, are:
Bags | Fixed Cost | Variable Cost | Total Cost | Average Variable Cost | Marginal Cost | Total Revenue wt Price $15 | Marginal Revenue |
0 | 1700 | 0 | 1700 | ||||
100 | 1700 | 500 | 2200 | ||||
200 | 1700 | 1200 | 2900 | ||||
300 | 1700 | 2700 | 4400 | ||||
400 | 1700 | 5200 | 6900 | ||||
500 | 1700 | 9000 | 10700 | ||||
600 | 1700 | 15000 | 16700 | ||||
700 | 1700 | 23800 | 25500 | ||||
800 | 1700 | 36800 | 38500 | ||||
900 | 1700 | 55800 | 57500 | ||||
1000 | 1700 | 83000 | 84700 |
- Complete the table. If this was a profit-making activity,atthe entry fee of$15, what would be the profit maximizing quantity ofbags.
- You will charge an entry fee of$15 per participant. Determine the breakeven quantity ofbags.
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