You want to start a bakery business to earn money. The total amount of money you will invest is $10,000. You will be selling cakes. It will cost you $14 to make each cake.
x ≤ 714
T = 50x
Using this answer and this equation, what is the most money you can hope to earn from your business?
Don’t forget that at the beginning of the process you had to spend some of your own money to get started. With the costs taken into account, what was your total profit?
To find the most money you can hope to earn from your business, we can use the equation T = 50x, where T represents the total earnings and x represents the number of cakes sold.
Since x ≤ 714 cakes, let's substitute this value into the equation:
T = 50 * 714
T = 35,700
Therefore, the most money you can hope to earn from your business is $35,700.
To calculate the total profit, we need to subtract the total cost from the total earnings. The cost of making one cake is $14 and the initial investment is $10,000.
Total cost = cost per cake * number of cakes sold + initial investment
Total cost = $14 * 714 + $10,000
Total cost = $9,996
Total profit = Total earnings - Total cost
Total profit = $35,700 - $9,996
Total profit = $25,704
Therefore, your total profit, taking into account the costs, would be $25,704.
To find the most money you can hope to earn from your business, we need to determine the maximum value of T.
Given the equation T = 50x and the constraint x ≤ 714, we need to find the maximum value of x within this constraint since x represents the number of cakes sold.
To maximize T, we need to maximize x within the given constraint. The maximum value of x within the constraint x ≤ 714 is 714.
Substituting this value into the equation T = 50x, we find the most money you can hope to earn from your business is:
T = 50 * 714 = $35,700
Now, let's calculate the total profit by considering the costs associated with making the cakes.
The cost to make each cake is $14, and the number of cakes sold is 714. Therefore, the total cost of making the cakes is:
Total cost = Cost per cake * Number of cakes sold
Total cost = $14 * 714 = $9,996
To calculate the total profit, we subtract the total cost from the revenue:
Total profit = Total revenue - Total cost
Total profit = $35,700 - $9,996 = $25,704
Therefore, your total profit is $25,704.
To find the most money you can hope to earn from your business, we need to determine the maximum value of T, which represents the total income from selling cakes.
The equation T = 50x represents the total income based on the number of cakes sold, where x is the number of cakes.
Since it costs $14 to make each cake, the total cost of making x cakes would be 14x.
To find the maximum value of T, we need to consider the constraint given by x ≤ 714. This means that the number of cakes sold cannot exceed 714.
So, the most money you can hope to earn from your business is found by calculating T when x is the maximum value of 714:
T = 50 * 714
T = $35,700
Therefore, the most money you can hope to earn from your business is $35,700.
To determine your total profit, we need to subtract the total cost of making the cakes from the total income:
Total profit = Total income - Total cost
Total cost = 14 * x
Total income = T = 50 * x
Profit = T - (14 * x)
Profit = $35,700 - (14 * 714)
Profit = $35,700 - $9,996
Profit = $25,704
Therefore, your total profit, taking the costs into account, is $25,704.