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The Average Selling Price Is

question 95

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The average selling price is $.60 per unit,the average variable cost is $.36 per unit,and the total fixed costs are $1,500.If operating profits of $900 are desired,a sales volume of 2,500 units is necessary.

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Definitions:

Plausibility

The quality of seeming reasonable or probable, often used to describe theories, arguments, or scenarios that are believable based on evidence or logic.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on free market economics presented in "The Wealth of Nations."

Individuals

Single human beings considered separate from a group or society.

Economic Activity

The actions that involve the production, distribution, and consumption of goods and services in an economy.

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