TLC Company sells a single product, a food basket (containing fruit, cheese, nuts and other items) that friends and family can purchase for university students who need a little extra TLC. This product, called the Exam-O-Rama, sells for \(\$ 10\) per basket. The variable cost is \(\$ 6\) per basket, and the total fixed cost is \(\$ 24000\) per year.

Required:

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

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

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