SOLUTION: For these problems, x will represent the number of items and y will represent the money. The fixed costs for a certain item are $100 per week. The cost to produce each item is $

Question 990685: For these problems, x will represent the number of items and y will represent the money.
The fixed costs for a certain item are $100 per week. The cost to produce each item is $3 per item.
Using this information, what is the cost equation? Give your answer in slope-intercept form:
y=
3X+100
Preview
The retailer intends to sell each item for $10/item.
Using this information, what is the revenue equation? Give your answer in slope-intercept form:
y=
10X
Preview
If in this week 9 items are made, and all items are sold in the week, what are the total costs to the retailer?
Cost = $
127

What is the revenue from selling 9 items?
Revenue = $
90

Finally, what is the profit for this retailer? (This is the part i can't figure out)
Profit = $ <---- ?
217.00 (Wrong) Why? How?

Found 2 solutions by stanbon, MathTherapy:
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
For these problems, x will represent the number of items and y will represent the money.
The fixed costs for a certain item are $100 per week. The cost to produce each item is $3 per item.
Using this information, what is the cost equation? Give your answer in slope-intercept form:
y = 3X+100 (Cost to produce "x" items)
==========================================================

The retailer intends to sell each item for $10/item.
Using this information, what is the revenue equation?
Give your answer in slope-intercept form:
y = 10X (Revenue)
------
If in this week 9 items are made, and all items are sold in the week, what are the total costs to the retailer?
Cost = 10*9 + 100 = $190.00
-------
What is the revenue from selling 9 items?
Revenue = $90.00
Finally, what is the profit for this retailer? (This is the part i can't figure out)
Profit = Revenue - Cost
Note:: Based on what you have posted, the retailer LOST money.
-----
Please check your post.
Cheers,
Stan H.
Answer by MathTherapy(10555) (Show Source): You can put this solution on YOUR website!
For these problems, x will represent the number of items and y will represent the money.
The fixed costs for a certain item are $100 per week. The cost to produce each item is $3 per item.
Using this information, what is the cost equation? Give your answer in slope-intercept form:
y=
3X+100
Preview
The retailer intends to sell each item for $10/item.
Using this information, what is the revenue equation? Give your answer in slope-intercept form:
y=
10X
Preview
If in this week 9 items are made, and all items are sold in the week, what are the total costs to the retailer?
Cost = $
127

What is the revenue from selling 9 items?
Revenue = $
90

Finally, what is the profit for this retailer? (This is the part i can't figure out)
Profit = $ <---- ?
217.00 (Wrong) Why? How?

Profit = Revenue - Cost, not Revenue, plus cost, as you have it.
Therefore, the retailer incurred a loss of $37 ($90 - 127, or - $37), as the cost ($127) to make
the 9 items was greater than the revenue ($90) derived from the sale of the 9 items. Get it?
RELATED QUESTIONS
Cost, Revenue & Profit For these problems, x will represent the number of items and y... (answered by CPhill)
(substitution method word problem): One machine has a fixed daily cost of $50 and a... (answered by ankor@dixie-net.com)
Robinson Wholesale Company paid $1330 for 500 items. Later they bought 800 items for... (answered by josgarithmetic)
Robinson Wholesale Company paid $1330 for 500 items. Later they bought 800 items for... (answered by josgarithmetic)
Hello, Any help with these algebra II questions would be greatly appreciated. I have... (answered by stanbon)
I need help with this problem thanks: The costs of doing business for a company can be... (answered by jim_thompson5910)
suppose your class in raising money for their field trip. You make $5 on each smoothie... (answered by josgarithmetic)
Your favorite aunt put money in a savings account for you. The account earns simple... (answered by richwmiller)
The cost to rent a car for a certain number of hours is shown in the table. The total... (answered by stanbon,ewatrrr)