Virgil Corp

question 56

Multiple Choice

Virgil Corp.has a selling price of $30 per unit,and variable costs of $20 per unit.When 12,000 units are sold,profits equaled $55,000.How many units must be sold to break-even?

• A)4,000
• B)12,000
• C)6,500
• D)5,500

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Definitions:

Changes in Income

Fluctuations in the amount of income earned, which can affect consumer spending and saving behavior.

Related Goods

Goods that are connected or interdependent, typically categorized as either substitutes or complements to one another.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price in a given time period.

Quantity Supplied

The aggregate quantity of a product or service that suppliers are prepared and capable of selling at a particular price during a defined time frame.