Refer to the Data in the Accompanying Table

question 166

Multiple Choice

Refer to the data in the accompanying table. If the firm's minimum average variable cost is $11, at the profit-maximizing level of output, the firm's total revenue is

• A)$48.
• B)$80.
• C)$32.
• D)$64.

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Definitions:

Turnover

A financial metric indicating the rate at which inventory is sold or the rate at which employees leave and are replaced in a business.

Net Operating Income

The profit a company generates from its operations, excluding taxes and interest, calculated as revenues minus expenses.

Operating Assets

Assets used by a business in its day-to-day operations to generate revenue, excluding investments and non-essential assets.

Return On Investment

An evaluation tool for gauging the productivity or returns of an investment, achieved by dividing the net earnings by the investment's expense.