Solve the Problem

question 53

Multiple Choice

Solve the problem. Refer to the table if necessary.
-Fred Smith bought 39 shares of Acme Steel at $38.25 per share and 119 shares of Kafka Enterprises at $74 per share. Find the total amount that he paid, ignoring broker's commissions.

• A)$10,250.15
• B)$10,321.55
• C)$10,297.75
• D)$10,226.35

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Definitions:

Productivity of Labor

A measurement of the output produced by employees or labor within a specific period of time.

Labor-Intensive

A type of production process or industry that requires a large amount of labor to produce goods or services, in comparison to capital.

Economic Costs

The total expenses incurred in production, including both explicit costs like wages and implicit costs such as opportunity costs.

Total Revenue

Total Revenue refers to the total receipts from sales of goods or services.