Economists ________ That Price Controls Are Desirable

question 189

Multiple Choice

Economists ________ that price controls are desirable.

• A)are in agreement
• B)are reluctant to state
• C)never believe
• D)only recently agree

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Definitions:

Contribution Margin Ratio

A financial ratio that measures the profitability of a product by subtracting variable costs from sales and dividing the result by total sales.

Operating Income

The profit realized from a business's operations after subtracting operating expenses from gross profit.

Fixed Costs

Expenses that do not change in proportion to the level of goods or services produced within a certain range.

Break-even Sales

The amount of revenue needed to cover total costs, both fixed and variable, with no profit or loss.