Use the Following Selected Information from Farris,LLC to Determine the Year

question 94

Multiple Choice

Use the following selected information from Farris,LLC to determine the Year 2 and Year 1 trend percents for net sales using Year 1 as the base.

• A)36.4% for Year 2 and 41.1% for Year 1.
• B)55.0% for Year 2 and 56.0% for Year 1.
• C)119.4% for Year 2 and 100.0% for Year 1.
• D)117.2% for Year 2 and 100.0% for Year 1.
• E)65.1% for Year 2 and 64.6% for Year 1.

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Definitions:

Total Utility

The total satisfaction received from consuming a given total quantity of a good or service.

Income

The money received by an individual or business in exchange for labor, services, or investment, constituting a basis for consumption and savings.

Consumer Equilibrium

The point at which the amount of goods purchased by a consumer is equal to their preference at prevailing market prices, maximizing utility.

Utility

The satisfaction or benefit a consumer derives from consuming a good or service.