•Establish an equation to determine revenue.
•Establish an equation to determine total cost.
•How many pizzas must be sold to break even (i.e., you experience neither a profit nor a loss)? Interpret your result.
As a business owner, it is very important to have an understanding of profit and loss. The formula for determining profit is Profit = revenue – cost (P = R – C).
•Determine the profit if 500 specialty pizzas are sold. Interpret your result.
•How many specialty pizzas would need to be sold to make a profit of $1,100? Interpret your result.
•How many specialty pizzas would you need to sell if you wanted to make a profit greater than $1,595? Interpret your result.