Question

Mr. Rice is selling a book of his bad jokes. The prophet before his book sales is represented by the following equation:

P= 10b - (3b + 70) where b is books sold and P is profit.?

Write the expression for the income and explain what numbers and variables represent.

Write the expression for Mr. Rice's expenses and explain what the numbers and variables represent.

E =

Write an equivalent simplified equation Mr. Rice's profit.

Equivalent Simplflied Equation: ____________________

What is Mr. Rice's profit is he sells 50 books?

Profit for Selling 50 books:______________​

Answer 1

• I = 10b; b is defined in the problem statement; 10 is the price of a book
• E = 3b-70; 3 is the cost of producing a book; 70 is fixed cost
• P = 7b -70
• P = 280 . . . . profit from 50 books

Explanation:

This question requires you make unsupported assumptions.

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If you assume the given profit expression expresses the difference between revenue (R) and cost (C):

P = R - C

then you can associate the terms as follows:

R = 10b

C = 3b +70

a) The income (revenue) might be ...

income = 10b

"b" is defined as the number of books sold. This suggests that "10" is the income produced by selling one book.

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b) The expenses (cost) might be ...

E = 3b +70

"b" has the same definition as before. We suppose "3" is the marginal cost of producing one book, and "70" is the fixed cost of operation whether books are produced or not.

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c) The given profit equation simplifies to ...

P = 7b -70

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d) The profit for selling 50 books is found by putting 50 where b is in the equation and doing the arithmetic.

P = 7·50 -70

P = 280 . . . . profit for selling 50 books