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?
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