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

`p = 5.20n - 45`

Step-by-step 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`