Total revenue refers to
A. the least number of units sold needed to cover product, distribution, and promotional costs.
B. the total money received from the sale of a product.
C. the amount at which marginal costs exceed fixed costs.
D. the net gain in sales revenue if the unit price is lowered.
E. the profit made from selling a product or service.
Answer: B
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The PJC department of McIntyre Company shows gross sales of $730,600 for computer supplies and $934,900 for general office supplies. It has determined that computer supplies cost $534,000 and that general office supplies cost $391,400 . What is the gross profit percentage for the computer supplies section of the PJC department?
a. $196,600 b. 1.4% c. 26.9% d. 73.0%
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Congress enacts a law that sets out a rigorous medical-device premarket approval process for the U.S. Food and Drug Administration to follow. The law includes a preemption provision. Moe is injured by a device that underwent the process and files a claim under New Hampshire state law to recover for the injury. The court will most likely rule that
a. Moe's state law claim preempts the federal law. b. the federal law and state law claim are concurrent. c. the federal and state law claim cancel each other out. d. the federal law preempts Moe's state law claim.