A restaurant frequently offers a special prix fixe meal and has been charging $140 per person...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A restaurant frequently offers a special prix fixe meal and has been charging $140 per person for the event. At that price, they've been averaging 50 customers each time. Their marketing firm has convinced them that they'll gain a customer for every dollar they lower the cost of the event, and conversely lose a customer for every dollar they raise the cost. Their fixed cost per event is $2600 and preparing each customer's meal costs an additional $40. What are the break-even points in terms of customers served? Write the exact answer. Do not round. Separate multiple answers with a comma. A restaurant frequently offers a special prix fixe meal and has been charging $140 per person for the event. At that price, they've been averaging 50 customers each time. Their marketing firm has convinced them that they'll gain a customer for every dollar they lower the cost of the event, and conversely lose a customer for every dollar they raise the cost. Their fixed cost per event is $2600 and preparing each customer's meal costs an additional $40. What are the break-even points in terms of customers served? Write the exact answer. Do not round. Separate multiple answers with a comma. A restaurant frequently offers a special prix fixe meal and has been charging $140 per person for the event. At that price, they've been averaging 50 customers each time. Their marketing firm has convinced them that they'll gain a customer for every dollar they lower the cost of the event, and conversely lose a customer for every dollar they raise the cost. Their fixed cost per event is $2600 and preparing each customer's meal costs an additional $40. What are the break-even points in terms of customers served? Write the exact answer. Do not round. Separate multiple answers with a comma.
Expert Answer:
Answer rating: 100% (QA)
So the exact breakeven point in terms of customers served is 60x60 How... View the full answer
Related Book For
Posted Date:
Students also viewed these marketing questions
-
1. What inter-organizational strategies might work most successfully as a company expands globally? Why? 2.Draw an organizational chart a business school or college. Outline the major roles and...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
The system shown consists of 3 cables. For example; cable C12 joins points 1 and 2. The coordinates of point 1 are (6.4, 0, 0) m, those of point 2 are (0, 9.5, -6.1) m, and those of point 3 are (0,...
-
Verify Theorem 1.7.1 d for the matrices A and B in Exercise 12. Theorem 1.7.1 d The inverse of an invertible lower triangular matrix is lower triangular, and the inverse of an invertible upper...
-
The food revenue will be increased by 15% due to a new marketing campaign and specialty menus The beverage revenue will increase by 8%. Staff costs need to be adjusted to 34% of the food budget....
-
The Petaluma Daily Times Corporation (CDT) publishes a daily newspaper. A 52 -week subscription sells for \(\$ 260\). Assume that CDT sells 100 subscriptions on January 1. None of the subscriptions...
-
Several years ago the Lewad Company established a defined benefit pension plan for its employees. The following information is available for 2007 in regard to its pension plan: (1) Discount rate,...
-
If you pay a vendor/supplier for an outstanding amount you owe for raw materials you purchased 30 days ago, the following Balance Sheet accounts for your company are impacted in the following manner....
-
Fiske Corporation manufactures a popular regional brand of kitchen utensils. The design and variety have been fairly constant over the last three years. The managers at Fiske are planning for some...
-
The following figure shows a section of an anchored retaining wall embedded into a saturated stiff clay layer. The sand has a unit weight of yt = 18 kN/m, c' = 0 kPa and ' = 34. The clay has a unit...
-
The dean of the School of Fine Arts is trying to decide whether to purchase a copy machine to place in the lobby of the building. The machine would add to student convenience, but the dean feels...
-
In this Case Study, we are asked, as a potential lender to AVL, to take a much broader view. Central to this view will be an assessment of the risks that the proposed lending will expose the bank to....
-
You are the cost accountant for Porch Perfection, a fictious company, that manufactures porch swings. You have summarized the following manufacturing overhead data for the last period. Actual Costs...
-
Find the optimal portfolio for a target Active Risk of 5% per year, assuming that short-positions are allowed, but now adding the constrains that the beta of the optimal portfolio with respect to the...
-
What three leadership theories would best support organizational change in Starbucks' Mission and Values? How do these three theories compare?
-
Metro Semiconductor is considering a replacement capital expenditure (selling an old asset and replacing it with a new asset). The old asset will be sold for $11,000, and has a remaining net book...
-
The cost curve for the city water supply is C(Q) = 16 + 1/4 Q2, where Q is the amount of water supplied and C(Q) is the cost of providing Q acre-feet of water. (An acre-foot is the amount of water...
-
Paul has $20,000 to invest for six months. For this amount, his bank pays 3.3% on a 90-day GIC and 3.5% on a 180-day GIC. If the interest rate on a 90-day GIC is the same three months from now, how...
-
If an investor has the choice between rates of 5.5% compounded semiannually and 5.6% compounded annually for a six-year GIC, which rate should be chosen?
-
Solve the following proportions for the unknown quantities 10.12 5 3 7 18
-
Possible supply determinants (factors that determine the position of the supply curve) are the _________ prices, the _________ of related goods; _________, the _________ of sellers, and _________.
-
A fall in input prices will _________ the costs of production, causing the supply curve to shift to the _________.
-
The price at the intersection of the market demand curve and the market supply curve is called the _________ price, and the quantity is called the _________ quantity.
Study smarter with the SolutionInn App