Task 2 (4pts)
2a: Write inequality, show work and graph (2pts)
2b: Find Total Earnings, show all work. (1pt)
2c: Find Total Profit , show work. (1pt)
I am going to invest $100 dollars.
I will be selling keychains
The cost to make one keychain is 30 cents each.
I will be selling them for $1.
It will take me 15 minutes to make a single keychain.
2a: The inequality that represents this situation is:
Total Cost > Total Revenue
The total cost can be calculated by multiplying the cost per keychain (30 cents) by the number of keychains produced.
The total revenue can be calculated by multiplying the selling price per keychain ($1) by the number of keychains sold.
Total Cost = 0.30 * number of keychains produced
Total Revenue = 1 * number of keychains sold
So the inequality becomes:
0.30 * number of keychains produced > 1 * number of keychains sold
2b: To find the Total Earnings, we need to calculate the product of the selling price per keychain and the number of keychains sold.
Total Earnings = $1 * number of keychains sold
2c: To find the Total Profit, we need to subtract the total cost from the total earnings.
Total Profit = Total Earnings - Total Cost