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(03.05 MC)<object:standard:ss.912.e.1.7>
Quantity of Jackets |
Price (in whole dollars) |
Total Revenue |
Marginal Revenue |
Total Cost |
Marginal Cost |
Profit (or loss) |
0 |
20 |
|||||
1 |
20 |
20 |
18 |
|||
2 |
19 |
38 |
33 |
|||
3 |
18 |
54 |
43 |
|||
4 |
17 |
68 |
55 |
|||
5 |
16 |
80 |
68 |
|||
6 |
15 |
90 |
83 |
|||
7 |
14 |
98 |
101 |
|||
8 |
13 |
104 |
120 |
Based on this chart, what is the marginal cost, in dollars, to produce four jackets?
(03.06 MC)<object:standard:ss.912.e.2.5>
Which investment produces a $5 hourly profit for a candy shop earning $1 profit per pound of candy?
(03.05 MC)<object:standard:ss.912.e.1.7>
Quantity of Jackets |
Price (in whole dollars) |
Total Revenue |
Marginal Revenue |
Total Cost |
Marginal Cost |
Profit (or loss) |
0 |
20 |
|||||
1 |
20 |
20 |
18 |
|||
2 |
19 |
38 |
33 |
|||
3 |
18 |
54 |
43 |
|||
4 |
17 |
68 |
55 |
|||
5 |
16 |
80 |
68 |
|||
6 |
15 |
90 |
83 |
|||
7 |
14 |
98 |
101 |
|||
8 |
13 |
104 |
120 |
Based on this chart, what is the marginal revenue, in dollars, at quantity five jackets?
(03.03 MC)<object:standard:ss.912.e.1.5>
Root and Vine is a gardening collective and local delivery service started by two friends. Their clientele has grown, and they want to expand. The owners like the idea of protecting their personal property, but they want to maintain control of the business. Which type of organization might best suit their growth?
(03.02 MC)<object:standard:ss.912.e.1.1>
Meg and her mother are opening a cupcake shop. They buy an oven, a walk-in cooler, and a decorating table. In terms of factors of production, what are these items?
(03.04 MC)<object:standard:ss.912.e.1.6>
Why do purely competitive markets tend to benefit consumers over producers?
(03.06 MC)<object:standard:ss.912.e.2.5>
Adalet runs a newsstand in a busy office complex. Which option would best help her business to grow?
(03.06 MC)<object:standard:ss.912.e.2.5>
Which investment produces a $40 daily profit for a game shop earning $2 profit from every game sold?
(03.03 MC)<object:standard:ss.912.e.1.5>
Your friend hopes to expand her business to multiple locations. It would be best for her to create a
(03.06 MC)<object:standard:ss.912.e.1.2>
Use this image to answer the following question. The ice cream shop needs 5 pounds of strawberries for every gallon of strawberry ice cream. The shop chose to produce 4 gallons of chocolate ice cream. How many pounds of strawberries should the shop purchase?
(03.06 MC)<object:standard:ss.912. e.1.9=””>
Sam works as a transcriptionist for $30,000 per year, and Janet works as a jet propulsion specialist for $73,000 per year. Which of the following statements couldbest explain the disparity in their incomes?
(03.06 MC)<object:standard:ss.912.e.1.9>
Stacy owns a hair salon and haircuts are $10. She charges hairdressers $20 per hour to rent a chair and serve clients. What is the minimum number of haircuts a hairdresser should give per hour to earn money at Stacy’s salon?
(03.06 HC)<object:standard:ss.912.e.1.2>
Mad Hatter Publishing specializes in genre fiction for young adults. A movie company decides to make an adaptation of one of its popular science-fiction novels. Currently, production at Mad Hatter is at point T. To which point or points is production likely to shift?
(03.06 MC)<object:standard:ss.912.e.1.2>
Use this image to answer the following question. The ice cream shop
(03.04 LC)<object:standard:ss.912.e.1.6>
An oligopoly is a market for a good or service that
(03.04 LC)<object:standard:ss.912.e.1.8>
The most common form of nonprice competition is
(03.04 MC)<object:standard:ss.912.e.1.8>
“Buy our cell phone with built-in calendar and reminder features! This way you will never forget an appointment while on the go.” This advertisement targets your
(03.01 LC)<object:standard:ss.912.e.2.3>
An entrepreneur is best defined as a person who
(03.02 MC)<object:standard:ss.912.e.1.1>
Your friend wants to open a clothing shop. A necessary capital resource is a
(03.05 HC)<object:standard:ss.912.e.1.7>
Quantity of Jackets |
Price (in whole dollars) |
Total Revenue |
Marginal Revenue |
Total Cost |
Marginal Cost |
Profit (or loss) |
0 |
220 |
0 |
0 |
90 |
0 |
|
1 |
200 |
200 |
200 |
170 |
80 |
|
2 |
180 |
360 |
160 |
200 |
30 |
|
3 |
160 |
480 |
120 |
290 |
90 |
|
4 |
150 |
600 |
120 |
340 |
50 |
|
5 |
140 |
700 |
100 |
400 |
60 |
|
6 |
135 |
810 |
90 |
500 |
100 |
|
7 |
130 |
910 |
100 |
620 |
120 |
The owner of ProPhone has charted the company’s marginal revenue and marginal cost for its latest line of smartphones, the Blazer. Use the chart to calculate the company’s profit. How many phones will ProPhone need to sell to maximize profit?
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