Company a Manufactures a Single Automotive Component

question 57

Multiple Choice

Company A manufactures a single automotive component.It had total revenue of $100,000 and an economic profit of $20,000.What is the price of the component it manufactures?

• A)($100,000/quantity sold).
• B)($100,000/quantity produced).
• C)($100,000/quantity sold) − average cost of the product.
• D)($100,000/quantity produced) − average cost of the product.

---

Definitions:

Maslow's

A hierarchy of human needs proposed by Abraham Maslow, suggesting that basic physical necessities must be satisfied before higher-level psychological and self-fulfillment needs can be pursued.

Fromm

Erich Fromm was a psychoanalyst and social psychologist who explored the interaction between psychology and society, emphasizing the importance of love, freedom, and human nature in his work.

Character Orientation

A concept relating to how individuals relate to the world and themselves, including aspects of their personality and behavior patterns.

Fromm

Fromm refers to Erich Fromm, a psychoanalyst and social psychologist known for his works on authoritarianism, democracy, and the intersection of psychology and society.