Calculate (A)actual Sales and (B)sales Tax Liability

question 82

Short Answer

Calculate (A)actual sales and (B)sales tax liability:
Total sales: $23,152.81 (includes a 5% tax.)

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Definitions:

Marginal Cost

The escalation in aggregate cost that comes from generating one more unit of a product or service.

Fixed Cost

Costs that do not change with the amount of goods or services produced by a business.

Variable Cost

Costs that vary directly with the level of production or volume of output.

ATC Curve

The ATC (Average Total Cost) Curve is a graphical representation of how a firm's average total costs vary with output level, highlighting the cost efficiency of producing goods.