Suppose a Firm Produced 500 Units of Output but Sold

question 36

Multiple Choice

Suppose a firm produced 500 units of output but sold only 400 of the units it produced. The average cost of production for each unit of output produced was $100. Each of the 400 units sold were sold for a price of $80. The total revenue of this firm would be:

• A) $50 000
• B) $40 000
• C) $32 000
• D) -$8 000

Understand the process and importance of discharge planning and patient education.

Describe the role of standardized care plans in patient care.

Understand the importance of individualized care planning based on assessment.

Recognize the importance of multi-disciplinary care plans and critical pathways in achieving patient outcomes.

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Definitions:

State Law

The body of law enacted by individual states in the United States, as opposed to federal law which is enacted by the federal government.

Disposition

The act of disposing, selling, or transferring property or assets, often as part of a legal settlement or estate management.

Inter Vivos Trust

A trust created and implemented during the lifetime of the grantor to manage or protect assets.

Mental Capacity

The legal ability of a person to make decisions or enter into a contract, which requires understanding and appreciating the implications of one's actions.