-In the Above Figure, What Is the Minimum Supply Price

question 387

Multiple Choice

-In the above figure, what is the minimum supply price for the fourth gallon of ice cream?

• A) $3.00
• B) $5.00
• C) $2.00
• D) $4.00

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Definitions:

Credit Sale

A transaction where the goods or services are provided to the customer with payment to be made at a later date.

Accounts Receivable

This refers to the amount of money customers are yet to pay a company for the products or services which have already been provided.

Sales Revenues

Revenue generated through the sales of goods or services throughout a certain period.

Credit Sales

Sales made by a business wherein the payment is postponed, leading to the creation of an account receivable.