If Fixed Costs Are $450,000 and the Unit Contribution Margin

question 67

True/False

If fixed costs are $450,000 and the unit contribution margin is $50, the sales necessary to earn an operating income of $30,000 are 14,000 units.

Understand the concept of equitable remedies and their origin, and differentiate them from legal remedies.

Grasp the principles of mitigating damages and the obligations of parties following a breach.

Calculate percentages of a given amount and convert them into dollar values.

Convert fractions to their decimal and percent equivalents.

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Definitions:

Unemployment

Unemployment is the situation where individuals who are capable of working and are actively seeking employment are unable to find a job.

Aggregate Demand

The complete need for every product and service within an economy at various price points, throughout a particular timeframe.

Aggregate Supply

The sum of all goods and services created in an economy, priced at a certain level, over a specific period.

Classical Dichotomy

The theoretical separation of real and nominal variables in economics, suggesting that nominal variables (like the money supply) do not affect real variables (like real GDP).