A 24% Trade Discount Is Equal to $365

question 179

Multiple Choice

A 24% trade discount is equal to $365. What is the list price?

• A) $453
• B) $1,156
• C) $1,521
• D) $993
• E) $1,799

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Definitions:

Efficient

Refers to a level of performance that uses the least amount of inputs to achieve the highest amount of output.

Utility Possibilities Frontier

A curve that shows the maximum feasible amount of two goods that can be produced with available resources and technology, indicating the trade-offs and efficiency in production.

Utility

In economics, utility refers to the satisfaction or pleasure derived by consumers from consuming goods or services.

Efficient

An attribute of a market or process where resources are allocated in the most effective way, yielding the maximum benefit for a given set of resources.