-Refer to the Information Above to Answer This Question

question 60

Multiple Choice

-Refer to the information above to answer this question.What is the firm's total profit if its fixed cost are $180,labour is its only variable costs and it maximizes its profits?

• A)$14.
• B)$24.
• C)$80.
• D)$204.
• E)Cannot be determined.

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Definitions:

Market Price

The present cost at which a product or service is available for purchase or sale in a specific marketplace.

Times Interest Earned

A financial ratio that measures a company's ability to meet its interest obligations from operating earnings, an indicator of financial stability.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing insights into its financial health.

Income Statement

A financial report summarizing the revenues, costs, and expenses incurred during a specific period, usually a fiscal quarter or year.