Cost models

Unit 3 Discussion

Instructions:

Systems of equations are used in many cost models in the real world. Here is an example scenario for you to consider.

  • Suppose you are running a carnival. You are selling hamburgers and sodas. A hamburger is $1.75 and a soda is .75. 
  • You expect to make a total of $117.50 for the day
  • You also plan to sell 120 hamburgers and sodas
  • How many sodas and hamburgers will you sell each? 
  • Suppose you decide to change the price ratio between hamburgers and soda’s so that they produce a more equal consumption of hamburgers and sodas.
    • What would you change the price to for each and why?
    • What would be the new amount of hamburgers and soda each at your price points?

For your discussion, you are asked to provide an example like the one presented here related to your profession (past, present or future). Any other example you come up with could work as well. Use the questions and prompts for the example shared above to help in formulating and formatting your example. Be sure to include your calculations in your example.

Please be sure to validate your opinions and ideas with citations and references in APA format.

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