A Cabinet Shop Produces Two Types of Custom-Made Cabinets for a Customer

question 256

Multiple Choice

A cabinet shop produces two types of custom-made cabinets for a customer. If the fancy cabinet costs 5 times as much as the standard cabinet, and if the total price for both cabinets is $7,350, how much does each cabinet cost?

• A) $5,880.00 and $1,470.00
• B) $6,125.00 and $1,225.00
• C) $3,675.00 and $3,675.00
• D) $4,900.00 and $1,225.00
• E) $6,300.00 and $1,050.00

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Definitions:

Profitability

A measure of the efficiency and effectiveness of a company in generating profit from its operations.

Market Prospects

The potential for future sales or earnings of a company, industry, or economy, often evaluated to make investment decisions.

Liquidity

A measure of how easily assets can be converted into cash without significantly affecting the asset's price.

Salability

Salability is the ease with which a product or service can be sold in a market, often influenced by factors such as demand, price, and quality.