Ramone Company Had $600,000 in Net Sales for the Year

question 90

Multiple Choice

Ramone Company had $600,000 in Net Sales for the year 2010. The total assets at the beginning of the year were $240,000 and total assets at the end of the year were $280,000. The ratio of net sales to total assets is (round answer to 2 decimal places) :

• A) 2.31
• B) 1.15
• C) .43
• D) .87

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Definitions:

Marginal Social Benefit

The additional benefit to society from producing or consuming one more unit of a good or service.

Private Market

A sector of the economy where transactions are made between private individuals or corporations without significant government intervention.

Common Resources

Refers to goods that are non-excludable and rival in consumption, such as fish stocks in the ocean or public parks, where usage by one person reduces availability for others.

Marginal Social Cost

The cost to society of producing one additional unit of a good or service.