The Table Below Shows the Supply Schedules for Fred's Pizza

question 360

Multiple Choice

The table below shows the supply schedules for Fred's Pizza and Johnny's Pizza, the only sellers of pizza in the market.

-Using the table, Johnny's marginal cost of the 600th slice of pizza is

• A) $3.50.
• B) $12.50.
• C) zero.
• D) $1.50.

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Definitions:

Partnerships

A form of business structure where two or more individuals share ownership, profits, and liabilities, operating under a legal partnership agreement.

Distributions of Income

The process by which earned income or profits are paid out to stakeholders, such as dividends to shareholders.

Loss

The negative financial result from operations, investments, or other business activities where expenses exceed revenues.

Closing Entry

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones.