profit and revenue

18 March 2024
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question
Brenda's Boards manufactures skateboards. Each skateboard sells for $45 and includes the following expenses: $3 for the wheels and mounts, $1 for the plastic board, $1 for the paint, and $10 for the labor. What is the total revenue the company makes after selling 10 boards?
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450
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To generate higher profit margins, producers must work to
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decrease their production costs
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According to the chart, the marginal revenue
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remains the same as production increases
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The point of maximum profit is the point at which the marginal cost equals the
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marginal revenue
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Clark's Cleaners is a housekeeping service. The company's expenses include theQ
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cleaning supplies and any equipment the company purchases.
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Profit equals the total amount of money made minus
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EXPENSES
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In order to calculate marginal cost, producers must compare the difference in the cost of producing one unit to the cost of
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producing the next unit
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How can producers maximize their profit? Check all that apply.
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2,3,5
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What is the difference between profit and revenue?
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Revenue is the total amount producers receive after selling a good. Profit is the total amount producers earn after subtracting the production costs.
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What is the best definition of marginal cost?
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the price of producing one additional unit of good
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Producers must understand the marginal benefit of making an additional unit, which shows the
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possible gain
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South Avenue Publishing produces self-help books. The company's profit is the
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money the company ears after paying all of its production costs
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To calculate profit, producers subtract their total production cost from their
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total revenue