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A company had net sales of $340,500, its cost of goods sold was $257,000, and its net income was $13,750. The company's gross margin ratio equals 24.5%.
($340,500 - $257,000)/$340,500 = 24.5%
Marginal Cost
An elevation in the cumulative expense resulting from manufacturing one more unit of a product or service.
Deadweight Loss
A decrease in economic efficiency resulting from the failure to reach equilibrium in the market for a good or service.
Monopolies
Market structures characterized by a single seller who controls the market supply of a good or service and can influence the price.
Efficiency
The optimal allocation of resources to maximize desired outputs without wasting any input.
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