Figure 7.4
-Figure 7.4 shows prices, demands, and cost data for the only restaurant in a small town. If the restaurant charges the single price of $8 per meal, what is its profit from senior customers?

Question

Quizplus · Accepted Answer

To calculate the profit from senior customers, we need to know the number of meals sold to seniors at $8, the cost per meal, and then use the formula: Profit = (Price - Cost) x Quantity. Assuming the data in Figure 7.4 supports this calculation, $1,200 is the correct profit.

Figure 7.4 -Figure 7.4 Shows Prices, Demands, and Cost Data for the for the Only