To determine the expenses of the fundraiser given the profit formula [tex]\(P = 70n - 1500\)[/tex], let's break down the components of the equation step-by-step:
1. Understanding the components of the equation:
- [tex]\(P\)[/tex]: The total profit made from selling [tex]\(n\)[/tex] tickets.
- [tex]\(70n\)[/tex]: This term represents the revenue generated by selling [tex]\(n\)[/tex] tickets, with each ticket contributing [tex]$70.
- \(-1500\): This term represents the fixed expenses incurred by the organization, regardless of the number of tickets sold.
2. Identifying the fixed expenses:
- When there is no revenue from tickets (\(n = 0\)), the profit \(P\) equation becomes \(P = -1500\). This negative value indicates that the expenses are $[/tex]1500.
3. Conclusion:
- Therefore, the expenses of the fundraiser are [tex]$\$[/tex]1500.
In summary, the fixed expenses of the fundraiser, as given in the equation, are [tex]\(\$1500\)[/tex].
