Assume the xyz corporation is producing 20 units of output. itis selling this output in a purely competitive market at $10 perunit. its total fixed costs are $100 and its average variable costis $3 at 20 units of output. this corporation:
a. shouldclose down in the short run.
b. is maximizing its profits.
c. is realizing a loss of $60.
d. is realizing an economic profit of $40.

The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?

As sales exceed the break‑even point, a high contribution‑margin percentage (a) increases profits faster than does a low contribution-margin percentage (b) increases profits at the same rate as a low contribution-margin percentage (c) decreases profits at the same rate as a low contribution-margin percentage (d) increases profits slower than does a low contribution-margin percentage

If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?