You are a marketing manager at a purse retailer. Last year you sold 1,300 purses at...

You are a marketing manager at a purse retailer. Last year you sold 1,300 purses at a price of $430 per purse. Your fixed costs are $50,000 and it costs you $110 to make each purse.

Calculate: Total revenue, average revenue, total cost, and unit variable cost.

Did you make a profit last year? How much?

You are deciding whether or not to participate in a national association of “Purse parties”, where all the attendees have to purchase your purse. Each party will cost you $1500. The expected number of attendees for each party is 30 women. You are also required by your boss to make a profit of at least $8000 by participating in each party.

Should you participate? Why or why not?

Expert Solution

ekkarill92 answered 1 year ago

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You are a marketing manager at a purse retailer. Last year you sold 1,300 purses at...

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