Solution-Charge each of them to recover his costs

Charge each of them to recover his costs

Reference no: EM131470343

Jay and his friends have set up a baseball tournament. He can rent a baseball field for a daily charge of $200 and equipment for $150 per day. If he hires independent umpires, he would need to pay $280 for the day. He would arrange to have caps made for each player at a cost of $4 each. If John can get 90 people to participate, what would they have to charge each of them to recover his costs?

Let P represent the price per unit.
Revenue = 90P
Total fixed costs = 200 +150 + 280 = 630
90P - (4* 90) -630 = 0
Solve for P.

Reference no: EM131470343

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Charge each of them to recover his costs

Reference no: EM131470343

Reference no: EM131470343

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