Ralph Bought 100 Shares of Meredian Stock at $86; 100

question 28

Short Answer

Ralph bought 100 shares of Meredian stock at $86; 100 shares of Lawson stock at 30.25; and 100 shares of Puritan stock at 22.50. Commission charges were $0.20 per share. Compute the total cost of the purchase.​

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Definitions:

Law of Diminishing Returns

An economic principle stating that, holding all else constant, as one input variable to the production process is increased, there comes a point when the added output from each additional unit of input decreases.

Productive

refers to the capability of producing significant amounts of goods and services, or contributing to economic output efficiently.

Intelligence

The ability to learn, understand, and make judgments or have opinions that are based on reason.

Variable Costs

Expenses that change in proportion to the activity of a business, such as costs for raw materials or production labor.