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Solving Inequalities in Business

Solving Inequalities in Business. Profit. Cost - How much you spend. Revenue - How much money you take in. To make a profit, Revenue > Cost. Example: Bake-Sale. You buy a pack of 12 cupcakes from the store for $4. You sell all 12 of them at a bake sale for p each. Your cost if $4.

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Solving Inequalities in Business

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  1. Solving Inequalities in Business

  2. Profit • Cost- How much you spend. • Revenue- How much money you take in. • To make a profit, Revenue > Cost

  3. Example: Bake-Sale • You buy a pack of 12 cupcakes from the store for $4. You sell all 12 of them at a bake sale for p each. • Your cost if $4. • Your revenue is 12p (unless you can’t sell all of them). • You make a profit if 12p > $4

  4. Example: Selling fries • Fries are a popular street food in Namibia. In Namibia, you could buy a 5kg bag of potatoes for N$50 (about $7), and 1L of oil for N$20 (about $3). This would be enough to sell about 30 bags of fries. • What is your cost? • What if you only use half of the oil? • What is your revenue? • How much should p be to make a profit? • If they sell fries for N$2 per bag, will they make a profit?

  5. Selling ice cream floats • Assignment: You want to try to sell root-beer floats to raise money. • Figure your costs, estimate how many you can sell, and calculate the price in order to make a profit. Photo by Arnold Gatilao Retrieved from Wikipedia

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