Liability arising out of work performed by independent contractors is referred to as
A) contractual liability.
B) contingent liability.
C) care, custody, and control liability.
D) customer's liability.
Answer: B
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________ price refers to what the consumers feel the product should cost
A) Fair B) Typical C) Usual discounted D) List E) Maximum retail
A firm produces three products in a repetitive process facility. Product A sells for $60; its variable costs are $20. Product B sells for $200; its variable costs are $80. Product C sells for $25; its variable costs are $15
The firm has annual fixed costs of $320,000. Last year, the firm sold 1000 units of A, 2000 units of B, and 10,000 units of C. Calculate the break-even point of the firm. The firm has some idle capacity at these volumes, and chooses to cut the selling price of A from $60 to $45, believing that its sales volume will rise from 1000 units to 2500 units. What is the revised break-even point?