Albert,Billy,and Cathy Share Profits and Losses of Their Partnership as 1:4:3,respectively.If

question 135

Multiple Choice

Albert,Billy,and Cathy share profits and losses of their partnership as 1:4:3,respectively.If the net income is $30,000,calculate Albert's share of the profits.(Do not round any intermediate calculations.)

• A) $7500
• B) $11,250
• C) $15,000
• D) $3750

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Definitions:

Concentration Ratio

A measure of the market share or dominance controlled by the largest firms within an industry, used to assess market competitiveness.

Herfindahl Index

A measure of market concentration that sums the squares of the market shares of all firms within an industry.

Economic Profit

The profit or loss calculated by taking the total revenue of a firm and subtracting all its costs, both direct and indirect.