Use the Following Scenario to Answer the Questions That Follow

question 127

Multiple Choice

Use the following scenario to answer the questions that follow.
Steve owns a bike store.His total costs are $1.2 million per year,his variable costs are $750,000,and his fixed costs are $450,000 per year.Last year,Steve sold 1,200 bikes.
-Steve's average variable cost was __________ per bike.

• A)$375
• B)$625
• C)$1,000
• D)$1,200
• E)$600

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Research tools used to gather feedback from a sample of individuals representing a larger population to understand their beliefs, preferences, or perceptions on specific topics.

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