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- 1. Multiple Choice____ is the value in money(or its equivalent) placed on a good or service.PriceExpenseProfitMoney
- 2. Multiple ChoiceA calculation that is used to determine the relative profitability of a product is the ROI orResult of IncreaseReturn on InvestmentReturn on InterstateResult of Interest
- 3. Multiple ChoiceA firm's percentage of total sales volume generated by all competitors in a given market is itsProfit shareMarket positionProfit positionMarket share
- 4. Multiple ChoiceThe relative standing a competitor has in a given market compared to other companies is itsMarket shareProfit shareMarket positionProfit position
- 5. Multiple ChoiceThe point at which sales revenue equals the costs and expenses of making/distributing a productProfit pointBreak-even pointLevel-off pointDemand point
- 6. Multiple ChoiceThe degree to which demand for a product is affected by its price isdemand elasticitysupply and demanddemand pointmarginal utility
- 7. Multiple ChoiceThis states that consumers will buy only so much of a given product, even though price is lowThe law of supply and demandThe law of demand elasticityThe law of diminishing marginal utilityThe law of supply
- 8. Multiple ChoiceThis occurs when competitors agree on certain prices but be proven by evidence of collusion.unit pricingprice discriminationprice fixingprice adjusting
- Answer choicesTagsAnswer choicesTags