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University Seminar Price Problem

Administrators at a university are planning to offer a summer seminar. It costs $3000 to reserve a room, hire an instructor, and bring in the equipment. Assume it costs $25 per student for the administrators to provide the course materials. If we know that 20 people will attend, what price should be charged per person to break even?

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Total Cost = Fixed cost + Variable cost = 3000 + Number of students * Cost per head = ...

Solution Summary

A step-by-step solution is provided for the given problem, including calculations of total cost, revenue, and the break-even point.