A local art association holds an annual fair that has expenses of $5247. Based on prior history, the art association expects to make $17429 from the sale of food. This year, the art association would like to make a total profit of $27282 to help pay for an after school program for at risk kids. The fair usually charges an admission of $7. To meet the profit goal, how many people must attend the art fair this year?
A local art association holds an annual fair that has expenses of $5247. Based on prior history, the art association expects to make $17429 from the sale of food. This year, the art association would like to make a total profit of $27282 to help pay for an after school program for at risk kids. The fair usually charges an admission of $7. To meet the profit goal, how many people must attend the art fair this year?
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter22: Frontiers Of Microeconomics
Section: Chapter Questions
Problem 8PA
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![A local art association holds an annual fair that has expenses of $5247. Based on prior
history, the art association expects to make $17429 from the sale of food. This year,
the art association would like to make a total profit of $27282 to help pay for an after
school program for at risk kids. The fair usually charges an admission of $7. To meet the
profit goal, how many people must attend the art fair this year?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F68f8b984-6c70-486b-a6c8-3c80b13a62a5%2F6c1db5fc-89ba-4fcd-af21-9391a8e29838%2Fvb2fwss_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A local art association holds an annual fair that has expenses of $5247. Based on prior
history, the art association expects to make $17429 from the sale of food. This year,
the art association would like to make a total profit of $27282 to help pay for an after
school program for at risk kids. The fair usually charges an admission of $7. To meet the
profit goal, how many people must attend the art fair this year?
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