Personal Touch produces and markets beaded purses. When graphed, the demand schedule for its purses is a straight line. If one purse costs $20, 5,000 beaded purses are sold. At $25, 4,500 purses are sold. How many beaded purses will be sold if the price per purse is increased to $30?
A. 5,500
B. 4,250
C. 4,000
D. 3,750
E. 3,500
Answer: C
You might also like to view...
A scale that has distance also has order but the reverse is not true
Indicate whether the statement is true or false
Assume sales are $750,000, variable costs are 70% of sales, and operating income is $100,000 . What is the contribution margin ratio and fixed cost, respectively?
a. 70% and $125,000 b. 30% and $125,000 c. 70% and $625,000 d. 30% and $625,000
The contingency perspective refutes universal principles of management by stating that a variety of factors, both internal and external to the firm, may affect an organization's performance. Thus, according to this management approach,
A. a Gantt chart is not an appropriate tool for planning. B. planning cannot be one of the four functions of management. C. bureaucratic rules and controls are of major importance. D. there is no "one best way" to manage and organize because circumstances vary. E. external factors, internal strengths and weaknesses, and skills of managers and workers should not be considered in planning, organizing, leading, or controlling.
When a merchandiser records sales returns, Accounts Receivable is credited. (Assume the seller uses the perpetual inventory system.)
Indicate whether the statement is true or false