A Small Business Produces a Single Product and Reports the Following

question 44

Multiple Choice

A small business produces a single product and reports the following data:
$$\begin{array} { | l | r | r | } \hline \text { Price } & \$ 8.00 & \text { per unit } \\\hline \text { Variable cost } & \$ 5.00 & \text { per unit } \\\hline \text { Fixed cost } & \$ 21,000 & \text { per month } \\\hline \text { Volume } & 10,000 & \text { per month } \\\hline\end{array}$$
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The price is raised to $8.50 per unit, and the volume drops to 9.000 units per month.
Assume other factors remain the same. How would this change affect operating income?

• A) It will go up by $500.
• B) It will go up by $1,500.
• C) It will go down by $2,500.
• D) It will stay the same.

Appreciate the importance of ethical standards in conducting and evaluating psychological research.

Identify effective study techniques based on psychological research.

Understand the significance of comparative psychology and the benefits of studying various animal species to gain insights into human behavior.

Acknowledge the importance of distributed practice over massed practice for better retention and recall of information.

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Definitions:

Information Literate

Refers to having the skills necessary to effectively find, evaluate, use, and manage information in various formats.

Research Questions

Clearly formulated queries that guide a scientific inquiry or study designed to provide answers or insights related to a specific problem or topic.

Government Documents

Official publications or records produced by government bodies, which can include laws, regulations, and informational pamphlets.

Microfilm

A photographic process used to produce miniature copies of documents for long-term storage, saving space and preserving information.