Question: I am having a hard time finding a formula for this question. I tried putting in 13 but the answer is wrong. Please help me!

I am having a hard time finding a formula for this question. I tried putting in 13 but the answer is wrong. Please help me!

I am having a hard time finding a formula for this question.

A price of $167 will compensate you for your fuel costs. But hold on! You still need to recoup the $50 million in fixed costs. For that your prices need to be higher than just the $167. But how much higher? Well, as you raise prices, your demand might fall- so you need to know the demand curve to figure out how much more you can charge. Let's say that if you charge $230 per ticket. demand is sufficient to fill an average of 110 seats on each flight. Your plane makes six flights a day, 365 days a year. Each year, you'll earn about $55 million in revenue, and you'll spend about $44 million on fuel. After how many years will you have recovered the cost of the plane? As in the lawn care question, remember to round up. 13 X Incorrect, try again

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