Solve the Problem. - the Professor of Economics at a Small Texas University

question 504

Multiple Choice

Solve the problem.
- The professor of economics at a small Texas University wanted to determine what year in school students were taking his tough economics course. Shown above is a pie chart of the results.
What percentage of the class took the course prior to reaching their senior year?

• A) 86%
• B) 54%
• C) 44%
• D) 14%

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Definitions:

Avoidable Cost

A cost that can be eliminated (in whole or in part) by choosing one alternative over another in a decision. This term is synonymous with relevant cost and differential cost.

Fixed Costs

Expenses that do not change with the level of production or sales activity, such as rent or salaries.

Contribution Margin

This is the amount remaining from sales revenue after all variable expenses have been deducted.

Financial Reporting

The process of providing financial information to company stakeholders to help in making business decisions.