Given the Cost Function, C(x), and the Revenue Function, R(x)

question 27

Multiple Choice

Given the cost function, C(x) , and the revenue function, R(x) , find the number of units x that must be sold to break even.
-A vendor sells hot dogs, bags of potato chips, and soft drinks. A customer buys 3 hot dogs, 3 bags of potato chips, and 3 soft drinks for $11.25. The price of a hot dog is $1.25 more than the price of a bag of potato chips.
The cost of a soft drink is $2.00 less than the price of two hot dogs. Find the cost of each item.

• A) $2.00 for a hot dog; $0.75 for a bag of potato chips; $1.50 for a soft drink
• B) $1.75 for a hot dog; $1.50 for a bag of potato chips; $0.50 for a soft drink
• C) $0.50 for a hot dog; $1.75 for a bag of potato chips; $1.50 for a soft drink
• D) $1.75 for a hot dog; $0.50 for a bag of potato chips; $1.50 for a soft drink

Analyze the strategic reasons behind trade protectionism and its impacts on domestic industries.

Identify the effects of tariffs, quotas, and subsidies on international trade.

Explain the concepts of comparative and absolute advantage in trade.

Analyze the impact of trade deficits and surpluses on a country's economy.

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