Your Group of Friends Is Sharing the Cost of a Baby

question 242

Short Answer

Your group of friends is sharing the cost of a baby gift to take to a baby shower. The gift costs $80 split among n friends. The cost per person c can be found by using the equation where c is the cost per person in dollars. Find the cost per person if 10 people agree to share the cost of the baby gift.

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Definitions:

Berries

Small, juicy fruits that are typically round, soft, and of various colors - eaten as food.

Nuts

In an economic context, refers to commodities or tangible goods that are traded, consumed, and can affect markets, but more generally just a type of food.

Utility Function

A mathematical representation in economics that quantifies an individual's preference for certain goods or outcomes over others.

Nuts

Edible seeds typically encased in a hard shell, commonly consumed as snacks or used in various recipes.