An Electric Motor Costing $301

question 37

Multiple Choice

An electric motor costing $301.85 has an operating cost of $0.027 for 1 hour of operation. Find the cost to run the motor for 40 hours, to the nearest penny.

• A) $2.18
• B) $1.08
• C) $302.93
• D) $21.80
• E) $10.80

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Definitions:

Milton Friedman

An American economist and Nobel laureate known for his extensive work on consumption analysis, monetary history and theory, and the complexity of stabilization policy.

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A business strategy aimed at generating the greatest possible profit, focusing on revenue enhancement and cost minimization.

Shareholders

Individuals or entities that own one or more shares of a company's stock, making them partial owners of the company.

CSR Initiative

A company's act of engaging in socially responsible activities, practices, and policies, aiming to have a positive impact on society, the environment, and stakeholders.