Use the Following to Answer Question

question 2

Multiple Choice

Use the following to answer question:
Table 8.1
-(Table 8.1) The level of output where marginal revenue equals marginal cost is:

• A)3)
• B)5)
• C)2)
• D) 4.

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Definitions:

Adjusting Entries

Journal entries made in an accounting period to allocate income and expenditure to the correct periods.

Profit Margin

A financial metric depicting the percentage of revenue that exceeds the costs of goods sold, showing the profitability of a business.

Net Sales

Company sales revenue post deduction of returns, allowances for imperfections or absences, and discounts.

Depreciation

An accounting method of allocating the cost of a tangible asset over its useful life to account for declines in value over time.