Scenario 19

question 149

Multiple Choice

Scenario 19.1 Use the following to answer the questions.
Concession Supply sells hotdogs, buns, and nacho ingredients to several major league ballparks across the country. Currently, Concession Supply has the following pricing information for one case of hotdogs sold at Wrigley Field: Total fixed costs = $1,200, Selling price = $16, and Variable costs = $6.
Refer to Scenario 19.1. To break even, Concession Supply should sell ____ cases of hot dogs per day at Wrigley Field.

• A) 13
• B) 120
• C) 40
• D) 200
• E) 60

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Definitions:

Value

Value refers to the importance, worth, or usefulness of something, often in terms of its perceived benefits versus cost.

Price/Value Formula

A strategy or equation used to determine the appropriate price of a product or service based on its value to the customer and the market demand.

Tropical Fish Displays

A setup intended for the keeping and showing of tropical fish in a controlled, aesthetically pleasing environment.

Waiting Area

A designated space where visitors or clients are received and can wait before their appointment or meeting.