1. Caleb owns a used book shop, charging $8 for each used book that he sells. It costs him $3.50 for each used book and $0.16 per bag. In addition, he spends $1150 on rent, $92 on electricity, and $2240 on labor costs each month. Analyze Caleb's business by answering the following questions. (5 points: Part I - 1 point; Part II - 1 point; Part III - 1 point; Part IV - 1 point; Part V - 1 point)
Part I: What is Caleb's unit cost per used book that he sells? What are his fixed costs per month?
45.44+ 1150 /83=14..40
Part II: What is the cost function representing Caleb's costs per month? Let cequal Caleb's costs per month and u equal the number of used books Caleb sells per month.
485*43413=784933
Part III: What is Caleb's revenue per used book that he sells?
67.45$
Part IV: What is the revenue function representing Caleb's revenue per month? Let r equal Caleb's revenue per month and u equal the number of used books Caleb sells per month.
Part V: What would be Caleb's costs if he sold 926 used books in a month? What would be his revenue?
Answers
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3482 $ Fixed cost per month , Cost is 6,871.16 $ if sold 926 used books & revenue = 7408 $
Step-by-step explanation:
costs him $3.50 for each used book and $0.16 per bag. In addition
Caleb's unit cost per used book that he sells = 3.50 + 0.16 = 3.66 $
Fixed Cost Per month = 1150 + 92 + 2240 = 3482 $
Let say number of Boos Sold = n
Then Cost = 3.66n + 3482
Revenue = 8n
r = 8u ( r = revenue , u = number of books sold)
Profit = 8n - (3.66n + 3482)
= 4.34n - 3482
n = 926
Cost = 3.66 * 926 + 3482 = 6,871.16 $
Revenue = 8 * 926 = 7408 $
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