Magpie Corporation uses the total cost method of product pricing. Below is cost information for the production and sale of 60,000 units of its sole product. Magpie desires a profit equal to a 25% return on invested assets of $700,000. 
-The unit selling price for Magpie's product is
Definitions:
Externality Problems
Occurrences in which the production or consumption of goods and services imposes costs or benefits on third parties not involved in the transaction.
Government Intervention
The involvement by government in the market to influence the allocation of resources and distribution of income.
Coase Theorem Solution
A theory suggesting that if trade or negotiation over property rights is allowed without cost, parties can reach an agreement regarding the allocation of resources regardless of the initial allocation.
Mutually Agreeable
A situation or outcome in negotiations or agreements that all parties involved accept and are satisfied with.
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