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

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

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

 

 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Fundraising
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education