Using the following information,calculate for 20x5 (a)net sales, (b)cost of goods sold, (c)gross margin,and (d)net income.
Definitions:
Short Run
A period in which at least one factor of production is fixed, limiting the ability of businesses to adjust to market conditions fully.
Marginal Revenue
The profit enhancement from selling one more unit of a product or service.
Marginal Cost
The increase in total cost that arises when the quantity produced is incremented by one unit.
Total Profits
The financial gain obtained after subtracting total costs from total revenue over a period.
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