Since the Minimum Wage Rate Began It Has Typically Stayed

question 328

Multiple Choice

Since the minimum wage rate began it has typically stayed at about what percentage of the average manufacturing wage?

• A) 10-20%
• B) 20-30%
• C) 40-50%
• D) 75-80%

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Definitions:

Sale Price

The price at which an item is sold to the public, often after discounts are applied.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Loss

The state of experiencing a decrease in financial resources or value, often as a result of a business operation, investment failure, or theft.

Break-even Selling Price

The price at which a product must be sold to cover all associated costs of production without making a profit or a loss.