A Company Had a Profit Margin of 5

question 7

Multiple Choice

A company had a profit margin of 5%.If net income equaled $83,000 and average total assets equaled $45,000,how much were net sales?

• A)$4,150
• B)$2,250
• C)$1,660,000
• D)$6,400
• E)$128,000

Understand the graphical representation of supply and demand curves under various elasticity conditions.

Calculate the government revenue generated from taxes on goods and services.

Analyze how changes in elasticity affect market equilibrium and total revenue.

Understand the economic concepts of perfectly elastic and perfectly inelastic demand and supply.

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Definitions:

Advance Directive

A legal document in which a person specifies what actions should be taken for their health if they are no longer able to make decisions for themselves due to illness or incapacity.

Voluntary Euthanasia

A form of euthanasia where a competent individual makes a voluntary and conscious decision to end their life, often due to unbearable suffering from a terminal illness.

Permanent Loss

An irreversible state of deprivation or the inability to regain a certain function, status, or item.

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, and environment.