Learn Before
Example: Translating and Solving a Profit Inequality for a Service Business
To determine the required hours of work to achieve a profit goal, translate the problem into an inequality. For example, if a pet sitting business charges $32 per hour, has monthly expenses of $2,272, and aims for a profit of at least $800, let be the number of hours worked. The profit inequality is . Adding to both sides yields . Dividing by gives . Therefore, at least 96 hours must be worked to earn the target profit.
0
1
Tags
OpenStax
Intermediate Algebra @ OpenStax
Ch.2 Solving Linear Equations - Intermediate Algebra @ OpenStax
Algebra
Related
Calculating Gains for the First Adopter of a New Technology
Profit = Revenue - Costs
Firm-Customer Interaction for Profit Maximization with a Differentiated Product
Local Cafe Profitability
A small bakery generated $5,000 in sales during a single month. In that same month, its expenses were: $1,500 for ingredients, $1,000 for rent, and $2,000 for employee salaries. What was the bakery's profit for the month?
A technology company, 'TechForward,' reported total sales of $2 million last year with production and operational expenses of $1.8 million. A competing company, 'InnovateNow,' reported total sales of $1.5 million with expenses of $1.1 million. Based on this information, 'TechForward' was the more profitable company last year.
To calculate a firm's profit, one must first correctly identify all sources of revenue and all costs. For a company that manufactures and sells furniture, match each financial item below to the correct category it belongs to for the purpose of calculating profit.
Analyzing Paths to Profitability for a Startup
A company reports total revenues of $750,000 for the year. If its profit for that same year was $200,000, its total costs must have been $____.
A t-shirt company currently generates $10,000 in monthly revenue with total costs of $7,000. The company is considering launching a new advertising campaign that is expected to increase revenue by 30%. However, the campaign itself will cost an additional $2,500 per month. Based on these figures, how would the advertising campaign affect the company's monthly profit?
Strategic Profit Analysis for a Manufacturing Firm
A toy company increased its total sales revenue from $500,000 in Year 1 to $600,000 in Year 2. This means the company's profit must have been higher in Year 2 than in Year 1.
Revenue Growth vs. Profit Growth
Example: Solving a Business Profit Application with a Linear Inequality
Example: Translating and Solving a Profit Inequality for a Service Business
Example: Translating and Solving a Profit Inequality for a Maintenance Business