A manufacturer has a monthly fixed cost of $40,000 and a production cost of $6.00 for each unit produced. The product sells for
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now, if we take 2000 to be the 100%, what is 2200? well, 2200 is just 100% + 10%, namely 110%, and if we change that percent format to a decimal, we simply divide it by 100, thus .
so, 1.1 is the decimal number we multiply a term to get the next term, namely 1.1 is the common ratio.