Use the Following Information to Answer the Next Two Questions

question 37

Multiple Choice

Use the following information to answer the next two questions:
A firm's fixed costs are $10 million.The firm charges $1800 for each unit and the firm's marginal costs are $1,000.
-What's the firm's contribution margin?

• A)$1800
• B)$800
• C)$1000
• D)$300

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Definitions:

Median

The median is the value that falls in the middle of a dataset after it has been sorted in either increasing or decreasing order.

Mean

The mean value of a group of numbers, which is obtained by dividing the sum total of these numbers by their count.

Set of Data

A collection of data points or values obtained from measurements, observations, or computations.

Mean

A measure of central tendency for a series of numbers, achieved by dividing their collective sum by the count of the numbers.