You own a coffee shop where you can buy bagels from a vendor for $1.45 each and sell them for $1.85 each. Unsold bagels are discarded. Over the past 10 days, you purchased 40 bagels each day and sold 40 bagels for 4 days and 30 bagels for 6 days. Calculate the potential profit to be made if you order 40 bagels, but only sell 30.
Question
Answer:
$-2.50
Step-by-step explanation:
Profit = total revenue – total cost
total revenue = selling price x amount sold
= 1.85 x 30 = $55.50
total cost = cost price x amount purchased
1.45 x 40 = $58
Profit = 58 – 55.5 = $2.50