A 4-column table has 7 rows. The first column is labeled Bikes produced per day with entries 0, 1, 2, 3, 4, 5, 6, 7. The second
column is labeled Total cost with entries 0, 80, 97, 110, 130, 160, 210, 270. The third column is labeled Total revenue with entries 0, 50, 100, 150, 200, 250, 300, and 350. The fourth column is labeled Profit with all blank entries. Using this table, calculate the profit at each level of bicycle production. One bike: -$ Two bikes: $ Three bikes: $ Four bikes: $ Five bikes: $ Six bikes: $ Seven bikes: $
At each level of bicycle production profits are -$30 for the 1st bike produced,$3 for second bike produced,$40 for third bike,$70 for fourth bike,$90 for fifth bike, $90 for sixth bike, $80 for Seventh bike.
Explanation:
1st column is the column the bike is produced.
2nd column is the column each bike cost.
3rd column is the column total revenue on the bike.
4th column is the of profit.
In order to calculate profit Revenue is subtracted from total cost.
Profit is negative for one bike and the rest is positive.
If the production of the bike is more which can intend to have higher.
Profits using excel sheet on determining the profit will be included.
While it was true that the cotton gin reduced the labor of removing seeds, it did not reduce the need for slaves to grow and pick the cotton. In fact, the opposite occurred. Cotton growing became so profitable for the planters that it greatly increased their demand for both land and slave labor.
