ExamChoc Company sells a single product, a chocolate basket that friends and family can purchase for university students studying for their exams. This product, called the Exam-O-Choc, sells for \(\$ 20\) per basket. The variable cost is \(\$ 14\) per basket, and the total fixed cost is \(\$ 48000\) per year.

Required:

a Draw one graph showing ExamChoc's (i) total revenues and (ii) total costs as volume varies. Locate the break-even point on the graph.

b What is ExamChoc's profit equation in terms of units sold?

c What is ExamChoc's break-even point in units?