What is my inequality and how do I graph it?
I am interested in starting a business selling homemade baked goods. I have decided to sell cookies and cupcakes as my two products.
To get started, I am willing to invest $5,000 of my own money in the business. This money can be used for purchasing ingredients, equipment, packaging, and marketing.
For cookies, I estimate that the cost to make each item will be around $0.50, including ingredients, labor, and packaging.
For cupcakes, I estimate that the cost per item will be around $1.50, considering the cost of ingredients, baking, frosting, and packaging.
In terms of pricing, I plan to charge $2 for each cookie and $4 for each cupcake. I have considered market demand, competition, and my desired profit margin in setting these prices.
By charging these prices, I expect to make a profit of $1.50 per cookie and $2.50 per cupcake after deducting the respective costs. This profit will help cover my initial investment, operational expenses, and provide room for growth and reinvestment in the business.