You run a business selling used hand tools. The rent on your building is $1400/month. Utilities average $600 month. Your average cost to buy your used hand tools from a wholesaler is 59.5/tool. You spend S0.50/tool to package and individually price them. You have two employees in your store during the opening hours that sell the tools. Each employee gets a salary of $12/hour. four store is open 10 hours/day, every day of the week. Over the course of a year, this averages ut to 30 days/month. The average selling price for a used tool is $22. How many tools per month must be sold to make $4000 profit each month

You run a business selling used hand tools. The rent on your building is $1400/month. Utilities average $600 month. Your average cost to buy your used hand tools from a wholesaler is 59.5/tool. You spend S0.50/tool to package and individually price them. You have two employees in your store during the opening hours that sell the tools. Each employee gets a salary of $12/hour. four store is open 10 hours/day, every day of the week. Over the course of a year, this averages ut to 30 days/month. The average selling price for a used tool is $22. How many tools per month must be sold to make $4000 profit each month

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 4CQQ

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