Toby's Tiny Toys Have an Expense Equation of E =

question 18

Essay

Toby's Tiny Toys have an expense equation of E = 12.45q + 53,900.Toby's sell its toys for $16.50 each,and its revenue equation is R = 16.5q.How many tiny toys does it have to sell to reach its breakeven point?

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Definitions:

Attorney-In-Fact

An agent who is given express, written authorization by his principal to do a particular act or series of acts on behalf of the principal.

Express Authorization

Explicit permission granted by one party to another to perform actions or activities on its behalf.

Principal

In agency law, one under whose direction an agent acts and for whose benefit that agent acts.

Implied Trust

A trust not created by explicit words but inferred by law to avoid injustice or to reflect the presumed intention of the parties involved.