Total cost is the cost of all expenditures incurred by a firm. Total fixed cost is the cost of the total costs - the cost of variable inputs, prime cost and direct cost. Total variable cost is cost of the total cost - the cost of total fixed cost.
The amount of money
Correct option is B
- In all, he has $100 to spend since $50+$25+$25=$100. We have x people coming and he has to spend $2.50, $1.50, and $3.00 per person, respectively. The phrase "per person" indicates we must multiply, so we have to multiply each value by "x."
- To find out how much money he has left, we must subtract. All of this put together is 100-(2.50x+1.50x+3.00x). Add the like terms and you get 7x. Your final expression would be 100-7x, which is answer choice B.
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