A Lobster Without a Statocyst Would Not Be Able to

question 69

Multiple Choice

A lobster without a statocyst would not be able to

• A)eat and digest prey.
• B)sense lightness and darkness.
• C)sense vibrations in the water.
• D)know which way is up and which is down.

Apply changes in the business environment (e.g., sales incentives, price changes, advertising budget adjustments) to predict their effect on net operating income.

Estimate sales required to achieve a target profit.

Understand the concept of contribution margin ratio and its application in determining target profit sales.

Compute margin of safety in both dollars and percentage terms.

---

Definitions:

Lamb Chops

Cuts of meat from the rib, loin, or shoulder of a lamb, often grilled, broiled, or roasted.

Normal Good

A good for which demand increases as consumer income rises, holding everything else constant.

Utility Function

A mathematical representation used in economics to show how different bundles of goods or services contribute to an individual's overall satisfaction or happiness.

Apples

Commonly a term for the fruit, but in economic or mathematical contexts, it may serve as a generic placeholder for any tradable good.