-Sun's Gas Station Is a Firm Operating in a Perfectly

question 73

Multiple Choice

-Sun's Gas Station is a firm operating in a perfectly competitive industry. Sun's Gas Station sells each gallon of gas for $3. What is the total revenue earned by selling 180 gallons of gas?

• A) $240
• B) $540
• C) $840
• D) $3,300

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Definitions:

Corporate Power

The legal authority and inherent capacities that a corporation possesses to conduct business, enter into contracts, and own assets.

Board of Directors

A group of individuals elected to represent shareholders and make decisions on major company issues, including strategy, governance, and overall direction.

Board of Supervisors

A governing body elected or appointed to oversee the administration of county government in some U.S. states.

Corporate Officers

Individuals appointed to manage the day-to-day operations and strategic direction of a corporation, typically holding titles such as CEO, CFO, or COO.