Knox CorpHas a Selling Price of $20,variable Costs of $14 Per

question 118

Multiple Choice

Knox Corp.has a selling price of $20,variable costs of $14 per unit,and fixed costs of $25,000.If Knox sells 12,000 units,the contribution margin ratio will equal:

• A)$60,000
• B)30%
• C)70%
• D)10.4%

---

Definitions:

Exclusivity

Exclusivity involves situations or agreements that restrict access, membership, or participation to a specific group or entities, often to maintain a level of prestige or quality.

Rational Choice Theory

A framework for understanding and often formally modeling social and economic behavior as the outcome of individual actions that are in each person's self-interest.

Corporate Actors

Organizations and companies that, when viewed as single entities, play significant roles in socio-economic and political arenas, influencing policies and market dynamics.

James Coleman

An American sociologist whose work significantly contributed to educational sociology, social theory, and the study of social capital.