Peter Is Creating a Spreadsheet to Summarize Labor Costs, Which

question 89

Multiple Choice

Peter is creating a spreadsheet to summarize labor costs, which is shown above. He has entered information into the Description column, Quantity/Shoe column, and Total Cost column. However, there are several errors in the Total Cost column.
-Peter has updated the production and cost figures and wants to enter them in the input area, which is ____.

• A) cells A1:B15
• B) cells A1:D15
• C) cells A9:D15
• D) cells A1:D7

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Definitions:

Price Inelastic

Describes a situation where the demand for a product does not change significantly when its price changes.

Tax Revenue

The financial earnings governments receive via taxing.

Perfectly Price Inelastic

A situation where the quantity demanded of a good or service does not change in response to a change in price.

Consumption

The use of goods and services by households.