Use the Following Table to Answer the Question : Table

question 12

Multiple Choice

Use the following table to answer the question : Table 16-1 : shows the total number of pizzas produced by 7 workers.

-Refer to Table 16-1.Marginal product becomes negative from the _____ worker.

• A)third
• B)fourth
• C)sixth
• D)seventh

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Definitions:

Purchases

The total amount spent on goods and services bought by a business for either resale or use in its operation.

Cost-to-retail Ratio

The cost-to-retail ratio is a method used in inventory accounting to estimate the value of ending inventory using the ratio of cost to retail price.

Rising Prices

A situation in an economy where the general level of prices for goods and services increases over time.

Retail Inventory Method

An accounting method used by retailers to estimate inventory cost by calculating a cost-to-retail ratio.