Keyana Takes a Job with a Starting Salary of $31,000

question 1

Multiple Choice

Keyana takes a job with a starting salary of $31,000 for the first year with an annual increase of 4.5% beginning in the second year.What is Keyana's salary,to the nearest dollar,at the end of the seventh year?

• A) $40,370
• B) $41,089
• C) $38,930
• D) $42,850

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Definitions:

Marginal Revenue

The additional income generated from the sale of one more unit of a good or service.

Average Revenue

The income a business earns from each unit sold, determined by dividing the total income by the total quantity of units sold.

Profit-Maximizing

A company's goal or strategy of adjusting production and sale levels to achieve the highest possible profit under given market conditions.

Market Price

The current price at which an asset or service can be bought or sold in a particular market.