You Own a Factory That Produces Above Ground Pool Frames

question 154

Short Answer

You own a factory that produces above ground pool frames.Here are your numbers for this year: fixed costs: $100,000;variable costs: $10 per pool frame (no matter what output is);output: 5,000;total revenue: $100,000.You had decided to go out of business when a nationwide pool retailer offered you a contract to produce a large number of pool frames.How many frames would you need to sell them to stay in business?

Grasp the concept and importance of econometrics in economics.

Recognize the core topics of macroeconomics and microeconomics.

Identify logical fallacies in economic reasoning.

Understand the role of government policy in achieving economic objectives such as equity and stability.

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Definitions:

Disaffirm

The legal right of a minor or other parties to void or cancel certain types of contracts, to protect against exploitation.

Mental Condition

A state or situation concerning the psychological or psychiatric state of an individual, which can affect their thinking, behavior, and interaction with others.

Voidable

Describes a contract that may appear valid but can be legally declared void at the option of one of the parties due to certain defects.

Reasonable Manner

Acting with fairness, care, and prudence in a given set of circumstances, as would be expected from a similarly situated person.