Solve the Problem. -A Restaurant Bill of $84.61 Was Shared Equally by 3

question 240

Multiple Choice

Solve the problem.
-A restaurant bill of $84.61 was shared equally by 3 people. How much was each personʹs share? Round your answer to the nearest cent.

• A) $29.20
• B) $28.20
• C) $29.31
• D) $28.31

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Definitions:

Sunk Cost

An expense that has been paid and cannot be retrieved.

Expected Cost

An estimate of the cost for a product, project, or operation that is anticipated under normal conditions.

Sell

The act of giving or handing over something in exchange for money.

Contribution Margin

The difference between sales revenue and variable costs, indicating how much revenue contributes to covering fixed costs and generating profit.