In Applying the High-Low Method, What Is the Fixed Cost

question 1

Multiple Choice

In applying the high-low method, what is the fixed cost? $\begin{array}{llr}\text { Month}& \text { Miles }& \text { Total Cost }\\\hline\text { January } & 80,000 & \$ 192,000 \\\text { February } & 50,000 & 160,000 \\\text { March } & 70,000 & 188,000 \\\text { April } & 90,000 & 260,000\end{array}$

• A)$35,000
• B)$72,000
• C)$28,000
• D)$100,000

Identify the advantages and disadvantages of different business forms.

Understand the concept of limited liability and how it applies to business structures.

Comprehend how intellectual property is protected globally and domestically.

Grasp the basic elements of a legally binding contract.

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Definitions:

Product Differences

Variations among products that make one product distinct from another in the eyes of consumers, often used as a competitive advantage.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically sloping downwards from left to right.

McDonaldization

McDonaldization refers to the process by which the principles of the fast-food industry, including efficiency, calculability, predictability, and control, have come to dominate other sectors of society, economy, and culture.

Monopolistic Competitor

A firm operating in a market structure characterized by many sellers offering differentiated products, which are similar but not perfect substitutes.