Which of the following states the law of supply and demand? A. All things being equal, the higher the price of a good or service
1 answer:
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Answer:
Profit = $18.8 per meal
Step-by-step explanation:
Chef ordered beef = 4 pounds
Cost of beef = $3.25 per pound
Total cost of beef = 4 × 3.25 = $13
Amount of potatoes ordered = 6 pounds
Cost of potatoes = $1.96 per pound
Total cost of potatoes = 6 × 1.96
= $11.76
Amount of carrots ordered = 5 pounds
Cost of carrots = $1.81 per pound
Total cost of carrots = 5 × 1.81 = $9.05
Total amount of beef, potatoes and carrots = $13 + $11.76 + $9.05
= $33.81
Number of meals prepared with material purchased = 28
Per meal cost = = $1.2075
Selling price of one meal = $20
Profit per meal = Selling price - Cost price
= 20 - 1.2075
= 18.7925
≈ $18.8
Therefore, he will make $18.8 for each meal.