The Amounts of Revenue That Would Appear on the 2012

question 11

Multiple Choice

The amounts of revenue that would appear on the 2012 and 2013 income statements would be:

• A) $16,000/$16,000.
• B) $48,000/$-0-.
• C) $5,333/$16,000.
• D) $5,833/$29,187.

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Definitions:

Bundle A

Not a standardized economic term without context; appears to be a placeholder name for a specific set of goods and services.

Budget Constraint

An economic model that represents all the combinations of goods and services that a consumer can afford given current prices within their income level.

Marginal Utility

The additional satisfaction or benefit (utility) a consumer gains from consuming one more unit of a good or service.

Fresh Fruit Topping

Freshly cut fruits used as an additional decorative and flavorful layer on desserts and other dishes.