Finance

Nixon’s Bed and Breakfast has a fixed cost of $5000 per month and the revenue they receive from each booked room is $200. The variable cost per room is $75. How many rooms do they have to sell each month to break even? (Note: The answer is a whole number. Give the answer as a whole number, omitting the decimal point. For instance, use 12 for twelve rooms).
Answer

Question 30
Students are organizing a “Battle of the Bands” contest. They know that at least 100 people will attend. The rental fee for the hall is $200 and the winning band will receive $500. In order to guarantee that they break even, how much should they charge for each ticket? (Note: Write your answer with two significant places after the decimal and do not include the dollar “$” sign. For instance, for five dollars, write your answer as 5.00).
Answer

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Question 31
Tracksaws, Inc. makes tractors and lawn mowers. The firm makes a profit of $30 on each tractor and $30 on each lawn mower, and they sell all they can produce. The time requirements in the machine shop, fabrication, and tractor assembly are given in the table.
(chart would not copy/paste)
Formulation:
Let x = number of tractors produced per period
y = number of lawn mowers produced per period
MAX 30x + 30y
subject to 2 x + y ≤ 60
2 x + 3y ≤ 120
x ≤ 45
x, y ≥ 0
The graphical solution is shown below.
(graph would not copy/paste)
What is the shadow price for assembly? Write your answers with two significant places after the decimal and do not include the dollar “$” sign.
Answer

Question 32
Tracksaws, Inc. makes tractors and lawn mowers. The firm makes a profit of $30 on each tractor and $30 on each lawn mower, and they sell all they can produce. The time requirements in the machine shop, fabrication, and tractor assembly are given in the table.
(chart would not copy/paste)
Formulation:
Let x = number of tractors produced per period
y = number of lawn mowers produced per period
MAX 30x + 30y
subject to 2 x + y ≤ 60
2 x + 3y ≤ 120
x ≤ 45
x, y ≥ 0
The graphical solution is shown below.
(graph would not copy/paste)
What is the shadow price for fabrication? Write your answers with two significant places after the decimal and do not include the dollar “$” sign.
Answer

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