Question

Vendors at a craft fair pay $45 to rent a table for the day. Benjamin rents a table at the craft fair and sells 8-ounce jars of jam for $7.95 per jar. If it costs Benjamin $2.75 to make each container of jam, which of the following equations best models his profit, p, from one day at the craft fair if he sells n jars of jam?

Answer 1

Answer:

$p = 5.20n - 45$

Explanation:

Given

$Rent = \ 45$

$Cost\ Price = \ 2.75$

$Selling\ Price = \ 7.95$

Required

Determine the function that represents the profit, p from n jars

First, we calculate the total cost price of n jars.

$Total\ Cost = Unit\ Cost * n$

$Total\ Cost = 2.75 * n$

$Total\ Cost = 2.75 n$

Next, we calculate the total selling price of n jars.

$Total\ Selling = Unit\ Selling * n$

$Total\ Selling = 7.95 * n$

$Total\ Selling = 7.95 n$

The profit p is then calculated as:

$p = Selling\ Price - Cost\ Price - Rent$

$p = 7.95n - 2.75n - 45$

$p = 5.20n - 45$