Refer to Figure 9.2. Whenever a CD is sold, 5% of the revenue goes to the artist and the remainder of the revenue goes to the record company. The graph above depicts R, the total revenue from sales; (0.95)R, the record company's share; and C, the cost of producing the CD (which the record companies bears). At what quantity would the record company like to produce the CD?

Assume that a no-load open-end mutual fund holds securities with a total market value of $12 million, has no liability, and has 500,000 shares outstanding. The net asset value par share of this fund is

A) $24. B) $60. C) $24 million. D) $60 million.

Judy has just bought a car that is made in Germany. As far as the U.S. balance of payments is concerned this purchase is a(n)

A) accounting identity. B) special draw. C) surplus item. D) deficit item.