# Quiz with 9 questions

Help me study for my Economics class. I’m stuck and don’t understand.

I would attached the quiz but here the first three questions

1. 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 Bags Fixed Cost Variable Cost Total 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 \$83,00 \$84,700

2. Given the above information on cost, if you charge \$15 per entry, what is the breakeven quantity of bags that you should order? Orders must be placed in blocks of 100 bags.

Please select any/all viable approaches below:

 Use the profit maximizing rule, MR ≥ MC, buy 300 bags. Use the profit maximizing rule, MR ≥ MC, buy 200 bags. Use Qb = F/(MR-MC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 300. Use Qb = F/(MR-MC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 200.