Maria's profit is maximized when she produces frying pans. When she does this, the marginal cost of the last frying pan she produces is $ , which is than the price Maria receives for each frying pan she sells. The marginal cost of producing an additional frying pan (that is, one more frying pan than would maximize her profit) is $ , which is than the price Maria receives for each frying pan she sells. Therefore, Maria's profit-maximizing quantity corresponds to the intersection of the curves. Because Maria is a price taker, this last condition can also be written as .

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Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.

Brenda wants a new car that will be dependable transportation and look good. she wants to satisfy both functional and psychological needs. true or false