In Task 1 you determined how much of your own money you’re willing to spend to get your business started. This is your limit—when making your product you can’t exceed this amount.
Write an inequality that represents the fact that while making your product you can’t exceed this spending limit. (If I invested $200 to start, the cost per item is less than or equal the total money you have to invest, for example if the cups of lemonade cost $.63 per cup: .63c ≤ 200 [.63 cents per cup is less than or equal to $200])
Enter Answer Here
Solve this inequality. Example: .63c ≤ 200 or c ≤ 317.4, so I can only make 317 cups with my $200 (317 instead of 317.4 because you can’t make .4 cups)
Enter Answer Here
Explain what your solution means in terms of the situation. Example: so I can only make 317 cups with my $200 (317 instead of 317.4 because you can’t make .4 cups)
Enter Answer Here
In Task 1 you determined how much you will charge for each item. Write an equation that represents your total earnings based on the price of your item and how many you sell. Example: If I charge $1.50 per cup, and it costs .63 per cup to make - 1.50c - .63c = total earnings. If I sell 50 cups: 1.50(50) - .63(50) = 43.50.
Enter Answer Here
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? SHOW THE EQUATION Example: What will be your total profit based on how many items you can sell, depending on what you invest: 1.50(317) - .63(317) = 275.79
Enter Answer Here
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? Did you make money or lose money? If so, how? Example: I only invested $8 to start, so $275.79 - $8 = 276.79, so I made a profit of $276.79.
Enter Answer Here
On task one i used paintings and i sold them $15-$25 depending on the painting
15 answers