Nigel, Age 17, Is a High School Student Attending Classes

question 4

Multiple Choice

Nigel, age 17, is a high school student attending classes at a local community college. He was asked to sign consent to participate in a research study for one of his classes for extra credit. Can Nigel participate without his parent's consent?

• A) Yes, because he is attending a post-secondary institution, his parent's consent is not necessary.
• B) No, Nigel can only participate if his parents consent to his participation.
• C) Yes, Nigel wants to participate and at his age his assent overrides parental consent.
• D) No, it is always unethical for students to participate in studies for extra credit.

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Definitions:

Unit Variable Cost

The cost associated with producing one additional unit of a product, which typically includes materials and labor.

Fixed Costs

Expenses that do not change with the level of production or sales activity, such as rent, salaries, and insurance premiums.

Contribution Margin

The amount by which sales revenue exceeds variable costs of goods sold, indicating how much revenue contributes towards covering fixed costs and generating profit.

Variable Costs

Expenses that change in proportion to the level of production or sales activity, such as raw materials and direct labor.