A charity organization had a fundraiser where each ticket was sold for a fixed price of $70. They had to sella few tickets just to cover necessary production costs. After selling 10 tickets, they were still at a net lossof $800 (due to the production costs).Let P represent the net profit (in dollars) when they have sold n ticketsComplete the equation for the relationship between the net profit and number of tickets sold.P=
Accepted Solution
A:
Answer:P = 70n -1500Step-by-step explanation:Since the revenue generated from selling 10 tickets was 700 dollars. Still the incurred a loss of 800 dollars due to production costs. Hence the overall production costs would come at a total of 700 + 800 = 1500 dollars. In order to make net profit, they would have to withdraw 1500 dollars from the amount gained by selling 'n' number of tickets;hence P = 70n - 1500