Solved:
Answered by AI, Verified by Human Experts
Eddie's Electronics sells laptop computers for $ 425 each. At this price, the store sells 325 laptops. Eddie's Electronics incurs a $ 398 cost for each laptop it sells. Assume that this is the store's only cost. Round your answers to the nearest dollar. What is Eddie's Electronics' revenue? $ What is Eddie's Electronics' profit?
Eddie's Electronics sells laptop computers for $ 425 each. At this price, the store sells 325 laptops. Eddie's Electronics incurs a $ 398 cost for each laptop it sells. Assume that this is the store's only cost. Round your answers to the nearest dollar. What is Eddie's Electronics' revenue? $ What is Eddie's Electronics' profit?
Answer:(a)TR =$138,125(b) Profit = $8,775Explanation:Profit is nothing but Total revenue (TR) - Total cost (TC).TR is P × Q.Price is given to be $425. Quantity is given to be 325 units. Cost per unit is $398.TR= 425 × 325TR =$138,125Total cost = Cost per unit × total units sold.TC = 398 × 325TC = $129,350Profit = $138,125 - $129,350Profit = $8,775...
Unlock full access for 72 hours, watch your grades skyrocket.
For just $0.99 cents, get access to the powerful quizwhiz chrome extension that automatically solves your homework using AI. Subscription renews at $5.99/week.