Lances Diner has a hot lunch special each weekday and Sunday afternoon. Food and other...
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Lances Diner has a hot lunch special each weekday and Sunday afternoon. Food and other variable costs for the lunch are $3.50, and the daily fixed costs are $1,000. Lance has an average of 500 cus- tomers per day. What is the lowest price Lance should charge for a special group of 200 that wants to come on Saturday for a family reunion? What should be the lowest price Lance charges on a normal weekly basis?
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