Figure: Costs (Figure: Costs) Use the Figure

question 64

Multiple Choice

Figure: Costs (Figure: Costs) Use the figure. At a price of $20 which of thefollowing statements is FALSE?

• A)AC = $15
• B)Profit = (20 - 15)15
• C)Average profit = $5
• D)MC < AC

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Definitions:

Net Profits

The amount of income that remains after subtracting all expenses, taxes, and costs from total revenue.

Shareholders

Individuals or entities that own shares in a corporation, thereby having an interest in its performance and governance.

De Jure Corporation

A corporation whose existence is the result of incorporators having fully or substantially complied with the relevant corporation statutes.

Promoter

An individual or company responsible for the organization, financing, and marketing of an event or venture.