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Business, 23.10.2019 20:00 Bloom247

Noel & vang company sells only one product at a regular price of $9.00 per unit. variable expenses are 55% of sales, and fixed expenses are $40,000. management has decided to decrease the selling price to $8.00 in the hope of increasing its volume of sales. what is the contribution margin ratio when the selling price is reduced to $8.00 per unit? (note: round answer to two decimal places.)

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