Let’s Say You Want to Open a Shoe Store That

question 77

Multiple Choice

Let’s say you want to open a shoe store that will specialize in high-end shoes. But before you do, you want to determine how many pairs of shoes you have to sell in the first year to break even (have no profit or loss) . You also want to know what your profit will be in year two. You have been busy estimating some revenues and costs. Here is what you have so far:


-How much are total fixed costs?

• A)$600,250
• B)$600,000
• C)$250
• D)$90

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Definitions:

Working Purpose Statement

A statement that outlines the main goals or objectives of a project or piece of work, guiding the focus and direction.

Critical Analysis

A process of evaluating an argument or piece of work in detail to assess its validity and relevance, often by breaking it down into its component parts.

Conduct Research

The systematic investigation into and study of materials, sources, etc., in order to establish facts and reach new conclusions.

Market Test

An experiment or survey conducted to gauge the potential success of a product or service in the marketplace.