Chapter 1: Problem 21a) How many pupils do Molly and Kathleenneed to enroll in their class to break even?b) If Molly and Kathleen want to make a profitof $5,000 for the summer, how many pupils dothey need to enroll?c) Molly and Kathleen estimate that they mightnot be able to enroll more than 60 pupils. Ifthey enroll this many pupils, how much wouldthey need to charge per pupil in order to realizetheir profit goal of $5,000? Chapter 1: Problem 21Molly Dymond and Kathleen Taylor areconsidering the possibility of teachingswimming to kids during the summer. Alocal swim club opens its pool at nooneach day, so it is available to rent duringthe morning. The cost of renting the poolduring the 10-week period for whichMolly and Kathleen would need it is$1,700.©2007 WileyChapter 1: Problem 21The pool would also charge Molly andKathleen an admission, towel service, andlife guarding fee of $7 per pupil, andMolly and Kathleen estimate an additional$5 cost per student to hire severalassistants. Molly and Kathleen plan tocharge $75 per student for the 10-week.swimming class.

A market operates at its minimum cost point where the seller earns maximum profits. The cost can be…

a) How many pupils do Molly and Kathleen need to enroll in their class to break even? b) If Molly and Kathleen want to make a profit of $5,000 for the summer, how many pupils do they need to enroll? c) Molly and Kathleen estimate that they might not be able to enroll more than 60 pupils. If they enroll this many pupils, how much would they need to charge per pupil in order to realize their profit goal of $5,000?

a) How many pupils do Molly and Kathleen need to enroll in their class to break even? b) If Molly and Kathleen want to make a profit of $5,000 for the summer, how many pupils do they need to enroll? c) Molly and Kathleen estimate that they might not be able to enroll more than 60 pupils. If they enroll this many pupils, how much would they need to charge per pupil in order to realize their profit goal of $5,000?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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