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.
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?
1 answer
1 answer