Jamie Quinn, a Sole Proprietor, Has the Following Projected Figures

question 25

Multiple Choice

Jamie Quinn, a sole proprietor, has the following projected figures for next year: Selling price per unit $150.00
Contribution margin per unit $45.00
Total fixed costs $630,000
What is the contribution margin ratio?

• A) 0.300
• B) 1.429
• C) 0.429
• D) 3.333

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Definitions:

Production Possibilities

Production possibilities depict the different combinations of goods and services that an economy can produce, given its available resources and technology, demonstrating the trade-offs and opportunity costs involved in production choices.

Unemployment Rate

The percentage of people in employment sectors who are unemployed and searching for jobs.

Employment Discrimination

Unfair treatment of employees or job applicants based on race, gender, age, religion, nationality, disability, or other protected characteristics.

Negro League

A league of baseball teams that was active primarily in the United States among African American players when racial segregation prevented them from playing in the major leagues.