Table 252 Refer to Table 25

question 126

Multiple Choice

Table 25.2 $$\begin{array} { | l | r | c | } \hline{ \text { Pool Sweeper } } & \text { Output (Revenue) } & \text { Market Share (\%) } \\\hline \text { North Star } & \$ 20,000 & \\\hline \text { Hurricarne } & \$ 16,000 & \\\hline \text { Blue Lagoon } & \$ 2,000 & \\\hline \text { Clean Sweep } & \$ 2,000 & \\\hline\end{array}$$ Refer to Table 25.2.Assume there are only four firms in the pool sweeper industry.What is the market share for North Star?

• A)20 percent.
• B)50 percent.
• C)10 percent.
• D)5 percent.

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Definitions:

Nontransferable

An attribute of an item or asset that cannot be legally transferred or assigned from one individual or entity to another.

Fixed Cost

Expenses that do not change with changes in the volume of production, such as rent, salaries, and insurance.

Depreciation of Capital

This refers to the decrease in the value of physical assets over time due to use, wear and tear, or obsolescence.

Wages Paid

The amount of money workers receive from employers in exchange for their labor.