In a recent study, your town's chamber of commerce found that 73% of town residents believed that local businesses overcharged f
1 answer:
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Answer:
The markup percent on the painting is 58.3%
Step-by-step explanation:
Here, The Cost price of the painting = $120
The selling price of the painting = $190
Hence, the total profit on the painting = Cost Price - Selling price
or Profit = $190 - $120 = $70
Now, Markup % = (Gross Profit / cost) x 100
⇒Markup % =
Hence, the markup percent on the painting is 58.3%
Answer:
Minimum value of function is 63 occurs at point (3,6).
Step-by-step explanation:
To minimize :
Subject to constraints:
Eq (1) is in blue in figure attached and region satisfying (1) is on left of blue line
Eq (2) is in green in figure attached and region satisfying (2) is below the green line
Considering , corresponding coordinates point to draw line are (0,9) and (9,0).
Eq (3) makes line in orange in figure attached and region satisfying (3) is above the orange line
Feasible region is in triangle ABC with common points A(0,9), B(3,9) and C(3,6)
Now calculate the value of function to be minimized at each of these points.
at A(0,9)
at B(3,9)
at C(3,6)
Minimum value of function is 63 occurs at point C (3,6).
