The firm should charge to cover its overall expenses

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A firm sells toys for the price of $20 per toy with 60% markup on price. It spends $350,000 on advertising each year. Firm's fixed costs equal $500,000. What is total cost of the first two toys for a firm (imagine that it decides to stop production of toys after producing only two toys and needs to know its overall expenses on this project)? What price per toy the firm should charge to cover its overall expenses?

Reference no: EM131576642

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