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Fudgin [204]
3 years ago
13

Which shows a correct order to solve this story problem? Phoebe bought 2 muffins for $1.99 each and 2 cups of milk for $1.50 eac

h at her favorite diner. She left a $1.40 tip for the server. How much did Phoebe have left from the $20 she took to the diner? A. Step 1: Add the price of a muffin to the price of a cup of milk. Step 2: Multiply that total by 2. Step 3: Add the tip to the final total for all the items. Step 4: Subtract the total amount with tip from $20. B. Step 1: Calculate the price of 2 muffins. Step 2: Calculate the price of 2 cups of milk. Step 3: Subtract the total amounts from Steps 1 and 2 from $20. Step 4: Add the tip to that amount. C. Step 1: Add the price of a muffin and the tip. Step 2: Add the price of a cup of milk to the total from Step 1. Step 3: Multiply that total by 2. Step 4: Subtract that total amount from $20.
Mathematics
2 answers:
aalyn [17]3 years ago
8 0
The answer is b.   You have to multiply 1.99 by 2 and 1.50 by 2.  Then you add those together. You subtract that price from 20.
shtirl [24]3 years ago
3 0
<span>Step 1: Add the price of a muffin to the price of a cup of milk.
Step 2: Multiply that total by 2.
Step 3: Add the tip to the final total for all the items.
Step 4: Subtract the total amount with tip from $20.

</span>1.99+1.50=3,49
3.49 x 2=6.98
6.98+1.40=8.38
20-8.38=$11.62
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Given the information stated above, the firms maximum total profit will be $90. (Option A) See the explanation below.

<h3>What is Maximum Total Profit?</h3>

Maximum total profit is the highest profit

<h3>What is the calculation supporting the above answer?</h3>

It is to be noted that the attached excel spread sheet was computed using the following formulas:

MC(n) = TC(n) - TC(n-1)

MC(n) = marginal cost of nth unit

TC(n) = Total cost of n units of output

MC(1) = 40-25=15 and so on

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Total Revenue (TR) = Price * Quantity

that is:

TR = P * Q

Marginal Revenue of the nth unit of output  =

TR of the n unit of output - TR of the n-1 units of output.

MR(n)=TR(n)-TR(n-1)

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By observation on the sheet, the maximum profit (that is highest profit attainable) is given as $90.

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Learn more about maximum total profit:
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