SOLUTION: An antique dealer bought c antique chairs for a total of x dollars. the dealer sold each chair for y dollars. write an algebraic expression for profit, P, earned from buying and se

Question 556223: An antique dealer bought c antique chairs for a total of x dollars. the dealer sold each chair for y dollars. write an algebraic expression for profit, P, earned from buying and selling the chairs.
write algebraic expression for the profit per chair.
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
the cost per chair is equal to x/c.
the revenue per chair is equal to y.
let p equal the profit per chair.
p = revenue per chair minus cost per chair which becomes:
p = r - x/c
total profit equals total revenue minus total cost.
total profit = p*c
total revenue = y*c
total cost = x
equation becomes:
p*c = y*c - x
p = profit per chair
p*c = total profit.
here's how it would work.
assume c = 50 = number of chairs
assume x = 5,000 = total cost
assume y = 200 = revenue per chair.
profit per chair = p = 200 - 5,000/50 = 200 - 100 = 100
total profit = p*c = y*c - x = 200*50 - 5,000 = 10,000 - 5,00 = 5,000
you have:
p*c = 5,000
p = 100
c = 50
equation becomes:
5,000 = 5,000
this confirms the equations are good.

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