Gladstorm Enterprises Sells a Product for $60 Per Unit

question 94

Essay

Gladstorm Enterprises sells a product for $60 per unit. The variable cost is $20 per unit, while fixed costs are $85,000. Determine the
(a) break-even point in sales units and
(b) break-even point in sales units if the selling price increased to $80 per unit. Round your answer to the nearest whole number.

Analyze equilibrium conditions in a purely competitive market.

Distinguish between normal profits, economic profits, and losses in the short run for competitive firms.

Understand the conditions under which a firm should continue to operate at a loss in the short-run.

Calculate marginal revenue and total revenue for firms in a purely competitive industry.

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Definitions:

Phylogenic Study

The study of the evolutionary development and diversification of a species or group of organisms.

Polyploidy

The state where an organism possesses more than two full sets of chromosomes, frequently observed in plants and certain animal species.

Sympatric Speciation

The evolutionary process through which new species evolve from a single ancestral species while inhabiting the same geographic region.

Sympatric Speciation

The process of speciation that occurs when a new species evolves from a single ancestral species while inhabiting the same geographic region.