Financial statements of abc corp. indicates that ending inventory levels in 2005 and 2006 were $200,000 and $350,000 respectively. cost of goods sold for 2005 and 2006 were $1,900,000 and $2,200,000 respectively. purchases in 2006 were:
a. $1,950,000
b. $2,150,000
c. $2,350,000
d. $1,850,000

Until recently, hamburgers at the city sports arena cost $4.70 each. the food concessionaire sold an average of 13 comma 000 hamburgers on game night. when the price was raised to $5.40, hamburger sales dropped off to an average of 6 comma 000 per night. (a) assuming a linear demand curve, find the price of a hamburger that will maximize the nightly hamburger revenue. (b) if the concessionaire had fixed costs of $1 comma 500 per night and the variable cost is $0.60 per hamburger, find the price of a hamburger that will maximize the nightly hamburger profit.