Nia and Costas Have Worked Hard to Open and Maintain

question 117

Multiple Choice

Nia and Costas have worked hard to open and maintain a restaurant in Greektown. They plan to leave the restaurant to their children when they retire, so the children may have a legacy and ongoing ties with the homeland. What kind of advantage of ethnic group affiliation does their plan rely on?

• A) political advantages
• B) emotional advantages
• C) cultural advantages
• D) economic advantages

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Definitions:

Fixed Costs

Costs that do not change with the level of output or activity, including salaries, rent, and insurance.

Activity Level

A measure of the amount of work or production a business undertakes, which can affect costs and efficiencies.

Total Cost Line

A graphical representation of how total costs change with changes in the level of activity or production volume.

Per Unit Cost

The cost associated with a single unit of product or service, calculated by dividing total costs by the number of units produced.