Suppose Chip's Chips produces bags of potato chips that sell for $3 a bag.What was the total revenue for Chip's Chips?
A) Cannot answer this question without knowing the cost per bag.
B) Cannot answer this question without knowing the quantity of bags sold.
C) Cannot answer this question without knowing the cost per bag and the quantity of bags sold.
D) Cannot answer this question without knowing what market share they hold.
Correct Answer:
Verified
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Q22: Fixed costs are:
A) costs that depend on
Q23: Variable costs are:
A) costs that don't depend
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Q29: Suppose Chip's Chips produces bags of potato
Q30: Suppose Bev's Bags makes two kinds of
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