If a Firm Has Fixed Costs of $20,000,variable Cost Per

question 32

Multiple Choice

If a firm has fixed costs of $20,000,variable cost per unit of $0.50,and a break-even point of 5,000 units,the price is:

• A) $2.50.
• B) $5.00.
• C) $4.00.
• D) $4.50.

Understand the contributions of teams to organizations.

Grasp the key factors in developing and sustaining high-performing teams.

Understand the concept and importance of team building.

Recognize different decision-making processes used within teams.

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Definitions:

Consumer Surplus

The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay.

Product Value

The importance or usefulness of a product to a consumer, often reflected in their willingness to pay for it.

Producing More X

Increasing the output or manufacture of a specific product or commodity, referred to as "X".

Society Gains

Refers to the overall benefits or improvements in welfare that accrue to a community or society from economic activities or policies.