Candice makes reed baskets in three sizes: small, medium,...

Candice makes reed baskets in three sizes: small, medium, and large. She sells the small baskets for 5 dollar, medium for 9 dollar, and large for 15 dollar. Each small basket costs her 2 dollar to make; each medium, 4 dollar; and each large, 7 dollar a. Write a polynomial that describes the revenue she receives from the sale of all three baskets. b. Write a polynomial that describes her cost to produce all three baskets. c. Write an expression in simplest form for her net. d. In one day, she sells 6 small, 9 medium, and 3 large baskets. Find her net profit or loss.

Candice makes reed baskets in three sizes: small, medium, and large. She sells the small baskets for 5 dollar, medium for 9 dollar, and large for 15 dollar. Each small basket costs her 2 dollar to make; each medium, 4 dollar; and each large, 7 dollar
a. Write a polynomial that describes the revenue she receives from the sale of all three baskets.
b. Write a polynomial that describes her cost to produce all three baskets.
c. Write an expression in simplest form for her net.
d. In one day, she sells 6 small, 9 medium, and 3 large baskets. Find her net profit
or loss.

Key Concepts

Substitution and Evaluation

Substitution and evaluation refer to the process of replacing variables in an algebraic expression with specific numerical values to compute an actual result. This technique is used to determine the net profit or loss based on given quantities sold or produced.

Net Profit

Net profit is calculated by subtracting the total production cost from the total revenue. It is an important financial metric that indicates whether a business operation results in a profit or a loss, and it can be expressed as a simplified algebraic expression.

Polynomial Expressions

Polynomial expressions are algebraic representations that involve sums of multiples of variables raised to powers. They are used to model relationships such as revenue and cost by combining various terms corresponding to different items or quantities.

Revenue Calculation

Revenue calculation is the process of determining the total income generated by multiplying the sale price of each item by its quantity and summing all the results. This is often represented as a polynomial where each term corresponds to the revenue from an item.

Cost Calculation

Cost calculation involves determining the total expense incurred by producing goods by multiplying the production cost per unit by the number of units produced. Similar to revenue, this is expressed as a polynomial that sums the costs for each type of product.

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