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What is the contribution margin ratio

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Question: Jurassic Park sells only one product, plastic dinosaurs, at a regular price of $36.90 per unit. Variable expenses are 58% of sales and fixed expenses are $62,000. Management has decided to decrease the selling price to $31.05 in hopes of increasing its volume of sales. What is the contribution margin ratio when the selling price is reduced to $31.05 per unit?

Reference no: EM132758135

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