To Calculate His Company's _______________,Edgar Will Subtract Operating Expenses from Gross

question 106

Multiple Choice

To calculate his company's _______________,Edgar will subtract operating expenses from gross profits.

• A)cost of goods sold
• B)profits before taxes
• C)operating income
• D)retained earnings

---

Definitions:

Competitive Market

A market structure characterized by many buyers and sellers, freedom of entry and exit, and products that are similar, leading to competition.

Surpluses

Situations in which the quantity of a good or service supplied exceeds the quantity demanded at a specific price, often resulting in excess stock.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market equilibrium price.

Equilibrium Price

The price point in the market where the amount of products available meets the amount of products consumers want to buy.