are starting a new business in which you have decided to sell two products instead of just one. Determine a business you could start and choose two products that you could sell. How much of your own money are you willing to invest in this business to get started? How much will each item cost you to make? How much will you charge for each item?
a. Explain this business (how much of your own money you're willing to spend on the business, what items you're going to sell, costs for each item, sale price for each item, etc.).
a What are we going to sell?
Answer
b What does each item cost to make or purchase?
1 Answer
c How much will we sell each item for?
Answer
d How much will you invest in your business?
Answer
Write an inequality that represents the fact that while making each item, you can't exceed this limit. Be sure to include the cost per item in this inequality. a What is the inequality for your business plan?
i Answer
a. We are starting a new business selling handmade jewelry and hand-poured candles. We are willing to invest $5,000 of our own money to get started. Each piece of jewelry costs $10 to make, and each candle costs $5 to make.
b. The jewelry costs $10 to make, and the candles cost $5 to make.
c. We will sell each piece of jewelry for $30, and each candle for $15.
d. We are willing to invest $5,000 in our business.
e. The inequality for our business plan would be: 10x + 5y ≤ 5000, where x represents the number of jewelry pieces made and y represents the number of candles made.