A Firm That Produces Widgets Must Pay Fixed Costs of $150

question 25

Multiple Choice

A firm that produces widgets must pay fixed costs of $150. It costs an additional $30 for every widget that they produce. If the market price is $40, how many widgets does the firm have to sell so that they do not make a loss?

• A) 1
• B) 5
• C) 10
• D) 15

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Definitions:

Assertive Communication

A communication style characterized by openly expressing one’s thoughts and feelings in a way that is respectful and direct.

Role Flexibility

The ability to adapt and change one's role or duties in response to varying conditions or situations.

Problem Solving

The process of identifying a problem, developing possible solutions, and then implementing a solution to address the issue.

Triangulation

In psychology, the process of involving a third party in a relationship or conflict to ease tension or for manipulation; in research, the use of multiple methods or data sources to develop a comprehensive understanding of a phenomenon.