Ralph Owns a Pool Store

question 2

Multiple Choice

Ralph owns a pool store.His total costs are $225,000 per year,and his variable costs are $75,000 per year.This means that his fixed costs are

• A) $75,000.
• B) $225,000.
• C) $300,000.
• D) $50,000.
• E) $150,000.

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Definitions:

Solve Problems

The process of identifying, analyzing, and finding solutions to issues or obstacles that hinder goals or objectives.

Master Complex Tasks

The ability to learn, understand, and proficiently execute tasks that are intricate and multifaceted.

Equity Theory

A concept in social psychology that suggests fairness in the distribution of resources and efforts affects motivation and satisfaction.

Perceive Inequity

The subjective feeling that one has been treated unfairly compared to others.