Allison Is a 16-Year-Old Who Shows an Increasing Ability to Plan

question 159

Multiple Choice

Allison is a 16-year-old who shows an increasing ability to plan and think ahead. She has sent for college information and has made financial plans to help pay for college. She is in which of the following of Piaget's stages of cognitive development?

• A) concrete operational thought
• B) preoperational thought
• C) formal operational thought
• D) sensorimotor thought

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Definitions:

Unit Contribution Margin

The profit per unit sold, calculated by subtracting the variable cost per unit from the selling price per unit.

Break-Even Point

The level of production or sales at which total costs equal total revenue, meaning the business neither earns nor loses money.

Contribution Margin Percentage

The ratio of contribution margin (sales revenue minus variable costs) to total sales revenue, expressed as a percentage.

Variable Cost Per Unit

The cost that varies with the level of output or sales, calculated on a per-unit basis.