After Eating Three Slices of Pizza,you Decide to Eat One

question 174

Multiple Choice

After eating three slices of pizza,you decide to eat one more piece.Your decision is an example of the economic concept called:

• A)opportunity-cost decision.
• B)people responding to incentives.
• C)equity decision.
• D)marginal decision making.

Employ correct procedures for using and focusing with the oil immersion lens.

Practice appropriate guidelines for the care and maintenance of a microscope.

Understand and list strategies for creating effective sales messages.

Identify and explain ethical and legal considerations in marketing and sales communication.

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Definitions:

Opportunity Cost

The loss of potential gain from other alternatives when one option is chosen.

Cost Formula

An equation or method used to determine the total cost of producing goods or services, combining fixed costs, variable costs, and sometimes semi-variable costs.

Variable Selling Expenses

Costs that vary directly with the volume of sales, such as commissions and shipping fees.

Contribution Margin

The amount remaining from sales revenue after variable expenses have been deducted, indicating how much revenue is available to cover fixed expenses and to contribute to profit.