In a Cost-Volume-Profit (CVP)graph,the Breakeven Point Is Where the Sales

question 84

True/False

In a cost-volume-profit (CVP)graph,the breakeven point is where the sales revenue line intersects the fixed cost line.

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Definitions:

Efficient

The optimal use of resources to achieve the desired output with minimal waste, or achieving a goal in the most cost-effective way.

MSB = MSC

A condition where the Marginal Social Benefit of consuming a good equals the Marginal Social Cost of producing it, representing an optimal allocation of resources.

Public Park

A plot of land, usually owned by a government, open to the public for recreation and relaxation, without an entrance fee.

Positive Externality

A benefit received by third parties not directly involved in an economic transaction, like the environmental benefits from a public park.