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The Country Fields Retirement Community charges $7200/month for a single senior citizen to reside in a studio apartment with assisted living care. The facility has operating expenses of $630,000 per month. Staffing levels are dependent on the number of residents. Each senior who enters the community requires additional food, personal care, and support staff time. The estimated cost for each person is $5000 per person per month. a. How many senior citizen residents does the facility need to have in order to reach the breakeven point? b. What is the company's annual profit or loss if they maintain an average residency level of 350 senior citizens?
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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