Answer the Following Questions Using the Information Below

question 2

Multiple Choice

Answer the following questions using the information below:
Dr Charles Hunter,MD,performs a certain outpatient procedure for $1000.His fixed costs are $20 000,while his variable costs are $500 per procedure.Dr Hunter currently plans to perform 200 procedures this month.
-What is the budgeted revenue for the month assuming that Dr Hunter plans to perform this procedure 200 times?

• A)$400 000
• B)$200 000
• C)$300 000
• D)$100 000

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Definitions:

Units of Input

The quantities of the various inputs used in the production of goods or services.

Units of Output

A measurement of production, quantifying the total goods or services produced by a company or industry.

Productive

Having the ability or capacity to produce a significant amount or result, especially regarding economic goods or services.

Complementary Factors

Complementary factors in economics refer to goods or inputs that are used together in production or consumption, where an increase in demand for one leads to an increase in demand for the other.