Klaus Nicholas Plans to Sell Christmas Trees from a Vacant

question 7

Multiple Choice

Klaus Nicholas plans to sell Christmas trees from a vacant lot in downtown Springfield.The trees will cost him $12 each.It will cost Klaus $1,500 to rent the lot from November 1 through December 30.If Klaus sells the trees for $20 each,how many trees must he sell to break even? Assume that he makes an initial,non-refundable purchase of 200 trees but can buy more trees in any quantity after that for $12 each.

• A)$1,500/($20-$12)= 188 trees with a very small profit on the last tree
• B)$3,900/$20 = 195 trees
• C)All 200 trees
• D)The Christmas tree project can never break even.

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Understand the foundational concepts of motivation theories and their relevance in organizational settings.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service offered by suppliers equals the quantity demanded by consumers.

Shortage

A market condition where the demand for a product exceeds its supply at a particular price, often leading to price increases.

Market Price

Represents the amount of money that a buyer is willing to pay and a seller is willing to accept for a good or service at a particular time.

Shortage

A situation where the demand for a product or service exceeds its supply in a market, often leading to rising prices.