c)
You plan to sell each cake for $50. Write an equation that represents your total earnings, T, based 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
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?
The equation that represents the total earnings, T, based on the price of each cake and the number of cakes sold, x, is:
T = 50x
To find the most money you can hope to earn, you would need to determine the maximum value of T. However, without more information, such as constraints or limitations on the number of cakes you can sell, it is not possible to determine the exact amount of money you can hope to earn.
To find the equation that represents total earnings, T, based on the price of each cake and the number of cakes sold, we can multiply the price of each cake by the number of cakes sold. Let's use the variable x to represent the number of cakes sold.
The price of each cake is given as $50. So, the equation for the total earnings, T, can be written as:
T = 50x
To find the most money you can hope to earn from your business, let's refer to your answer from part b. In part b, you determined that you can bake and sell at most 100 cakes.
So, to find the most money you can hope to earn, you can substitute x with 100 in the equation:
T = 50 * 100
Simplifying the equation:
T = 5000
Therefore, the most money you can hope to earn from your business is $5000.
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?
In part b, it was determined that the maximum number of cakes that can be baked and sold is 100.
Using the equation from part c, T = 50x, where x represents the number of cakes sold, we can substitute x with 100 to find the most money you can hope to earn:
T = 50 * 100
T = 5000
Therefore, the most money you can hope to earn from your business is $5000.
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?
To calculate the total profit, we need to consider the costs incurred at the beginning. However, since you haven't mentioned the specific costs incurred, it is not possible to determine the total profit.
If you provide information about the costs incurred, I can subtract them from the total earnings to calculate the total profit.