1. Mr. Knechtel is opening a business suit clothing line for old men. It's called Dan's Suits for Old Men. Mr. Knechtel gets all of his clothes from a distributor at a very cheap rate. It cost's him $12 for
a pair of pants and $15 for a suit coat. He also has to pay $200/month for shipping and another
$500/month to rent out a warehouse. Mr. Knechtel charges $55/suit to his customers. Note: A suit
is made up of pants and suit coat.
How many suits does Mr. Knechtel need to sell cach month to break-even? Do you think Dan's
Suits for Old Men is a good business? Why or Why not? Explain how you arrived at your conclusion
and show any mathematical work that you do to make your explanation clear.