Econ Mentor That is correct! What are my profits if I am making 60 lunches and selling them for 10 each when my costs are 1 a lunch? 500 600 540 Kim

To calculate your profits, you need to determine the total revenue and subtract the total costs.<br /><br />1. **Total Revenue**: This is calculated by multiplying the number of lunches sold by the price per lunch.<br /> \[<br /> \text{Total Revenue} = 60 \text{ lunches} \times \$10/\text{lunch} = \$600<br /> \]<br /><br />2. **Total Costs**: This is calculated by multiplying the number of lunches made by the cost per lunch.<br /> \[<br /> \text{Total Costs} = 60 \text{ lunches} \times \$1/\text{lunch} = \$60<br /> \]<br /><br />3. **Profit**: Subtract the total costs from the total revenue.<br /> \[<br /> \text{Profit} = \text{Total Revenue} - \text{Total Costs} = \$600 - \$60 = \$540<br /> \]<br /><br />Therefore, your profit is \(\$540\).