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Solve the problem.
-Mrs. White wants to crochet hats and afghans for a church fundraising bazaar. She needs 5 hours to make a hat and 4 hours to make an afghan, and she has no more than 51 hours available. She has material for no
More than 12 items and no more than 10 afghans. The bazaar will sell the hats for $20 each and the afghans
For $8 each. How many of each should she make to maximize the income for the bazaar? What is the
Maximum income?
Property Tax
A tax assessed on real estate by the local government, based on the property's value.
Elastic
Refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.
Excess Burden
The cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.
Tax Revenue
The income that is collected by the government through various forms of taxation.
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