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A manufacturer makes and sells 2 products, P and Q.

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by BTGModeratorVI » Fri Jun 05, 2020 11:49 am

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Answers

A

B

C

D

E

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Difficulty—

A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?

A. $28.50
B. $27.00
C. $19.00
D. $18.50
E. $18.00

Answer: E
Source: Official guide
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Re: A manufacturer makes and sells 2 products, P and Q.

by Brent@GMATPrepNow » Fri Jun 05, 2020 1:40 pm
BTGModeratorVI wrote: ↑
Fri Jun 05, 2020 11:49 am
 A manufacturer makes and sells 2 products, P and Q. The revenue from the sale of each unit of P is $20.00 and the revenue from the sale of each unit of Q is $17.00. Last year the manufacturer sold twice as many units of Q as P. What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?

A. $28.50
B. $27.00
C. $19.00
D. $18.50
E. $18.00

Answer: E
Source: Official guide
Let's plug in some NICE VALUES that satisfy the given information...

Last year the manufacturer sold twice as many units of Q as P.
So, let's say the manufacturer sold 1 P and 2 Q's

What was the manufacturer’s average (arithmetic mean) revenue per unit sold of these 2 products last year?
TOTAL revenue = 1($20.00) + 2($17.00)
= $20.00 + $34.00
= $54

There were 3 units sold.
So, average price = $54/3 = $18

Answer: E

Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
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