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Hillary sells cosmetics from her part-time home-based business. She receives a straight commission of 21% from her supplier. At the year-end, she also receives a 7% bonus on sales exceeding her annual quota of $50,000. What will her gross annual earnings be for a year in which her average monthly sales are $5,500?
Total Output
The aggregate quantity of goods or services produced by an economy, sector, or firm within a given period.
Specialize
Focus on a specific area of expertise or production to achieve greater efficiency.
Production Possibilities
A curve representing all possible combinations of maximum outputs that could be produced with a fixed amount of resources.
Consumption Possibilities
The range of goods and services that can be consumed given a consumer's income and prices.
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