Solve. -Bob Owns a Watch Repair Shop. He Has Found That

question 187

Multiple Choice

Solve.
-Bob owns a watch repair shop. He has found that the cost of operating his shop is given by c = - 196x + 67, where c is the cost in dollars, and x is the number of watches repaired. How many watches must he repair to
Have the lowest cost?

• A) 33 watches
• B) 20 watches
• C) 67 watches
• D) 49 watches

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Definitions:

Gross Profit Margin

A financial metric that measures the percentage of revenue exceeding the cost of goods sold.

Cost Of Goods Sold

The total expense incurred by a business to manufacture or acquire products that were sold during a specific period.

Profit Margin

A financial metric indicating the percentage of revenue that exceeds the costs associated with making or selling products.

Profitability

A financial metric used to assess the ability of a business to generate earnings relative to its revenue, assets, equity, or other financial metrics.