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You run a business selling robotic vacuum cleaners for fenced in backyards. The rent on your building is $2,300/month. Utilities used to average $600/month, but only are $100/month since your landlord covered the roof in solar panels. Your average cost to buy your parts from a wholesaler is $71.70/unit. You spend $10/unit to package them. Your taxes average $19.72/unit. You have five employees that make the units that you pay $15/hour. Your shop is open 8 hours/day, five days a week. Over the course of a year, this averages out to 22 days/month. Your employees work an average of 9 hours/day over the course of the month. The average selling price for a unit is $189. How many units per month must be sold to make a $5,000 profit each month?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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