Solve the Problem. -Sales of Frozen Pizza for a Club Fund-Raiser Increased from Fund-Raiser

question 53

Multiple Choice

Solve the problem.
-Sales of frozen pizza for a club fund-raiser increased from 500 one year to 585 the next year. What was the percent of increase?

• A) 14.5%
• B) 17%
• C) 85.5%
• D) 83%

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Definitions:

Price Searcher

A firm that determines the price of its products with some degree of market power, usually by differentiating its products from those of competitors.

Marginal Revenue

Incremental income earned by selling an additional unit of a good or service.

Marginal Cost

The rise in expenses associated with the production of an extra unit of a product or service.

Price-searcher Firm

A company that determines the price of its products based on demand and supply conditions rather than prevailing market prices.