Question

Using this table, calculate the profit at each level of running shoe inserts production.

Answer 1

Answer:

1 pair = 23

2 pair = 51

3 pair - 80

4 pair - 109

5 pair = 137

Step-by-step explanation:

Profit = Total revenue - total cost

If we make 1 pair of running shoe inserts

 Profit = 30-7 =23

If we make 2 pairs of running shoe inserts

 Profit = 60-9 =51

If we make 3 pairs of running shoe inserts

 Profit = 90-10 =80

If we make 4 pairs of running shoe inserts

 Profit = 120-11 =109

If we make 5 pairs of running shoe inserts

 Profit = 150-13 =137

Answer 2

Answer:

To find the answer, subtract the total cost of producing the shoe from the total revenue (money made) to find the profit (money made after repaying the cost).

Pair 1: 30 - 7 = 23

$23 is the profit

Pair 2: 60 - 9 = 51

$51 is the profit

Pair 3: 90 - 10 = 80

$80 is the profit

Pair 4: 120 - 11 = 109

$109 is the profit

Pair 5: 150 - 13 = 137

$137 is the profit

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If the question below asks you which one you should choose, keep in mind that just because there are higher profits does not mean you should choose the choice (with the highest). This would decrease the likely-hood that a consumer would buy it (as it is too expensive), and lower your consumer pool. Instead, choose one that is towards the middle.

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