Table 11-4 Table 11-4 Lists Estimated Revenues and Costs (Per Week) for }
\end{array}

question 363

Multiple Choice

Table 11-4
$\begin{array}{|c|c|c|c|c|c|c|}\hline \begin{array}{c}\text { Quantity } \\\text { Sold }\end{array} & \text { Price } & \begin{array}{c}\text { Total } \\\text { Revenue }\end{array} & \begin{array}{c}\text { Marginal } \\\text { Revenue }\end{array} & \begin{array}{c}\text { Total } \\\text { Cost }\end{array} & \begin{array}{c}\text { Marginal } \\\text { Cost }\end{array} & \text { Profit } \\\hline 0 & \$ 10 & \$ 0 & \cdots &\$ 2& \ldots & -\$ 2 \\\hline 1 & 9 & 9 & & 82 & \\\hline 2 & 8 & 16 & & 13 & & \\\hline 3 & 7 & 21 & & 17 & & \\\hline 4 & 6 & 24 & & 20 & & \\\hline 5 & 5 & 25 & & 22 & & \\\hline 6 & 4 & 24 & & 26 & & \\\hline\end{array}$ Table 11-4 lists estimated revenues and costs (per week) for plastic vials (100 vials per box) for the Victoria Biological Supplies Company. Victoria sells plastic vials to universities and private research laboratories.
-Refer to Table 11-4.Victoria's profit-maximizing output is where

• A) total profit equals $3.
• B) marginal revenue and marginal cost both equal $4.
• C) marginal revenue and marginal cost both equal $3.
• D) marginal cost is at its minimum value.

Appreciate the role and representation of employees in corporations, particularly through ESOPs and board representation.

Identify the models of unionism and their characteristics, including empowerment unionism and exclusive representation.

Grasp the ethical considerations in business from utilitarian, libertarianism, and stakeholder perspectives.

Comprehend the principles and proposed reforms of the National Labor Relations Act (NLRA), including deregulation and the TEAM Act.

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Definitions:

Absorption Costing

A cost accounting method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed manufacturing overhead) in the cost of a product.

Profit

The financial gain achieved when the revenue from business activities exceeds the expenses, costs, and taxes involved in maintaining the operation.

Standard Costs

Predetermined costs for products or services, used as benchmarks for evaluating actual performance and cost control.

Step-Down Method

An allocation method used in cost accounting to assign costs in a hierarchical manner, from the highest level down to the lowest.