What Is the Total Project Budget in This Time-Phased Budget

question 57

Multiple Choice

What is the total project budget in this time-phased budget? $$\begin{array} { | l | l | l | l | l | } \text { Activity } & \text { January } & \text { February } & \text { March } & \text { April } \\\hline \text { Survey } & 8,000 & & & \\\hline \text { Design } & 5,250 & 4,500 & & \\\hline \text { Dirt } & & 6,700 & & \\\hline \text { Foundation } & & 12,550 & & \\\hline \text { Framing } & & & 37,250 & \\\hline \text { Plumb } & & & 7,800 & \\\hline \text { Wire } & & & & 5,500 \\\hline\end{array}$$

• A) $85,450
• B) $87,550
• C) $82,050
• D) $86,550

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Definitions:

Price Discriminate

The practice of selling the same product or service at different prices to different customers, based on the willingness or ability of the customers to pay.

Marginal Revenue Curve

A graph that shows the change in total revenue resulting from selling one additional unit of a product or service.

Price Discrimination

The strategy of selling the same product at different prices to different groups of consumers, based on their willingness to pay.

Economic Profit

The total revenue of a firm minus its explicit and implicit costs, essentially measuring the excess beyond the break-even point.