on the price of your cake and how many you sell. Let x represent the number of cakes you sell.
* Use T and x as your variables
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1 point
d)
Using your answer from part b and your equation from part c, what is the most money you can hope to earn from your business?
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1 point
e)
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?
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1 point
Did you make money or lose money?
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1 point
Make Money
Lose Money
The information provided is not sufficient to calculate the most money earned, the total profit, or whether money was made or lost. More information about the price of the cake, costs, and expenses is needed to answer these questions.
To answer this question, we'll need the information from parts b and c. Let's start by recapping the given information:
- T represents the total profit in dollars.
- x represents the number of cakes sold.
Part b stated that the equation for the total profit is T = 10x - 100. This means that for each cake sold, $10 is earned but $100 is spent on costs.
Part c stated that the equation for the total revenue is R = 20x. This means that for each cake sold, $20 is earned in revenue.
Now, let's calculate the most money you can hope to earn from your business using the answer from part b and the equation from part c:
The equation from part c, R = 20x, gives us the revenue for x cakes sold. To find the most money you can hope to earn, we need to maximize this revenue.
Since revenue is maximized when the number of cakes sold is maximized, we need to find the maximum value for x. However, without further information or constraints, we cannot determine the exact value.
Therefore, we can say that the most money you can hope to earn from your business is R = 20x, where x is the maximum possible number of cakes sold.
Moving on to part e, it asks for the total profit taking into account the costs. We already have an equation for the total profit, T = 10x - 100.
To find the total profit, we substitute the value of x with the maximum possible number of cakes sold that we determined in part d. This will give us the total profit after accounting for costs.
Finally, to determine whether you made money or lost money, we examine the total profit calculated in part e. If the total profit is positive, you made money. If the total profit is negative, you lost money.