Refer to Scenario 9.6 below to answer the question(s) that follow. SCENARIO 9.6: Celeste borrowed $40,000 from her brother to open a car wash. She pays her brother a 5% yearly return on the money he lent her. Her other yearly fixed costs equal $18,000. Her variable costs equal $40,000. In her first year, Amy sold 40,000 car washes at a price of $2.50 per car wash.Refer to Scenario 9.6. Celeste's total revenue is
A. $2,000.
B. $44,000.
C. $60,000.
D. $100,000.
Answer: D
You might also like to view...
Okun's Law states that
A) there is a relationship between the unemployment rate, real GDP, and potential GDP. B) supply creates its own demand. C) as the unemployment rate rises, the inflation rate falls. D) a higher inflation rate leads to a higher nominal interest rate. E) as the real wage rate falls, the quantity of labor demanded increases.
A straight-line demand curve with negative slope intersects the horizontal axis at 200 tons per week. The point on the demand curve at which the price elasticity of demand is 1 corresponds to a quantity demanded
A) of 0 tons. B) of 100 tons. C) of 200 tons. D) that would be negative if a negative quantity demanded were possible.
In order to be effective, a price floor
A) must be set below equilibrium price. B) must be set above equilibrium price. C) must be set at equilibrium price. D) must be a zero price.
A high unemployment rate most likely means that there is a:
A. high rate of inflation in the economy. B. large GDP gap in the economy. C. low rate of interest in the economy. D. small GDP gap in the economy.