Refer to the Above Data

question 70

Multiple Choice

Refer to the above data.At the profit-maximizing output,the firm's total revenue is:

• A) $48.
• B) $38.
• C) $80.
• D) $64. Profit maximization occurs at MC = MR,which is three units in this case.At three units of output,total revenue is 3 * $16 = $48.

Recognize the importance of crisis management in organizations.

Learn about service quality dimensions and their significance in customer satisfaction.

Understand different perspectives on product quality.

Understand the laws and acts related to unethical behavior and discrimination in the workplace.

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Definitions:

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the material and labor costs.

Prior Quarter Sales

The total revenue generated by a business in the quarter immediately preceding the current one.

Accounts Payable

The amount of short-term debts or obligations a company owes to its suppliers or creditors.

Account Receivable

Debts owed by customers to a company for products or services that have been dispatched but not settled.