SOLUTION: Suppose you invest $1500 in equipment to put logos on coffee mugs. You buy each mug for $2. After you have placed the logo on the mugs, you sell them for $7 each. How many mugs mus
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Question 1058590: Suppose you invest $1500 in equipment to put logos on coffee mugs. You buy each mug for $2. After you have placed the logo on the mugs, you sell them for $7 each. How many mugs must you sell to break even?
I had the idea to create an equation first but don't know where to start.
Found 2 solutions by math_helper, jorel555:
Answer by math_helper(2461) (Show Source): You can put this solution on YOUR website!
Your gross profit on each mug is $7-$2 = $5.
Profit = 5x-1500
Where x is the number of mugs sold
You want to solve for Profit = 0.
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
Your first $1500 is a fixed cost. Your variable cost is $2 per mug. When you sell them for $7, you make 7-2, or $5 each. In order to break even:
5x=1500
x=300
You have to sell 300 mugs to recover your $1500 investment. ☺☺☺☺
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