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Questions in business

📝 Answered - At the beginning of January, Kesia Records paid $148,950 to acquire the exclusive rights to a new album. It costs them $1.13 to print a copy of this album, which they can sell for $9.75. The following chart shows the sales of that record, along with the overhead expenses of running a record studio, not counting production costs. | Month | Albums Sold | Expenses | |---|---|---| | Jan. | 5,486 | $27,714 | | Feb. | 8,191 | $21,689 | | Mar. | 4,796 | $25,195 | | Apr. | 7,490 | $28,766 | | May | 6,272 | $24,604 | | Jun. | 5,131 | $29,040 | In which month did Kesia Records first break even? A. January B. March C. April D. May

📝 Answered - Explain how a business income statement could help a business owner who is looking for investors to help him grow his business.

📝 Answered - Sodresh Sundials manufactures large stone sundials. It costs $14.22 to produce a sundial, which can then be sold for $36.75. The following table shows Sodresh Sundials's non-production overhead costs and sundials sold over a period of one year. | Month | Overhead ($) | Sold | |---|---|---| | Jan. | 9,176 | 290 | | Feb. | 7,510 | 329 | | Mar. | 7,952 | 309 | | Apr. | 7,071 | 288 | | May | 8,942 | 303 | | Jun. | 9,249 | 329 | | Jul. | 7,813 | 400 | | Aug. | 6,821 | 350 | | Sep. | 9,382 | 382 | | Oct. | 8,117 | 329 | | Nov. | 9,018 | 425 | | Dec. | 6,503 | 424

📝 Answered - Calculate the profit per bag for the bags sold at $2 each, using the table provided. | Sales Price | Estimated Sales | Fixed Cost | Fixed Cost per Unit | Variable Cost | Total Cost | |---|---|---|---|---|---| | $1.00 | 700,000 bags | $250,000 | $0.36 | $0.50 | $0.86 | | $2.00 | 450,000 bags | $250,000 | $0.56 | $0.50 | $1.06 |

📝 Answered - Match each activity to the correct part of the circular flow model. Imports exports households taxes government payment savings external sector factor market government product market financial sector getting a paycheck exports imports putting money in a savings account subsidies firms/businesses investments injections: leakages: paying tax buying a computer from a non-American company having lunch at an American fast food restaurant buying clothes restaurant in another country building a new factory with a bank loan receiving a Social Security check

📝 Answered - In how many months did Sodresh Sundials either break even or turn a profit? a. eleven b. six c. four d. one

📝 Answered - A consumer recognizes a need. The next step in the complete decision-making process is for the consumer to: A. consider options B. make a purchase C. search for information D. make a choice

📝 Answered - Coordination of Benefits regulation applies to all of the following plans EXCEPT A. Self-funded group health plan B. Group vision plan C. Preferred Provider Organization plan D. Group health plan

📝 Answered - Which tool can be used to help with stakeholder engagement?

📝 Answered - Suppose that the pen-making industry is perfectly competitive. Also suppose that all current firms and any potential firms that might enter the industry have identical cost curves, with minimum ATC = $1.25 per pen. If the market equilibrium price of pens is currently $1.50, what would you expect the equilibrium price to be in the long run? A. $1.00 B. $1.50 C. $0.25 D. $1.25