The Deep River Dairy produces small-batch, artisanal cheeses to be sold to fancy restaurants and tourist shops. Each year they incur roughly $275,000 in expenses related to feeding and caring for their cows, paying employees, and managing their property. They estimate that electricity, water, and added ingredient costs required for cheese production come out to about $9.25 per pound of cheese produced. If their cheese-making facility is only capable of producing 15 pounds of cheese per day, what is the lowest price that they could set for a pound of cheese that would turn a profit for the year (1 year = 365 days) assuming they are able to sell all cheese produced? Your answer should be in dollars and cents (i.e., nothing past the second decimal place)

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Deep River Dairy incurs 275000 in annual expenses Production cap... View the full answer