Solve the Problem $\$ 20$ A Pound That She Wishes to Mix with 90 Pounds

question 73

Multiple Choice

Solve the problem.
-A merchant has coffee worth $\$ 20$ a pound that she wishes to mix with 90 pounds of coffee worth $\$ 90$ a pound to get a mixture that can be sold for $\$ 80$ a pound. How many pounds of the $\$ 20$ coffee should be used?

• A) \(7.5 \mathrm { lb }\)
• B) \(52.5 \mathrm { lb }\)
• C) \(105 \mathrm { lb }\)
• D) \(15 \mathrm { lb }\)

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Definitions:

Market Price

The going rate at which a particular market offers to buy or sell an asset or service.

Average Revenue

The revenue earned per unit of output sold; calculated by dividing the total revenue by the number of units sold.

Total Revenue

The total amount of money received by a firm from selling its goods or services.

Total Cost

The complete amount of money required for the production of a given level of output, including both fixed and variable costs.