Product X Sells for $80 Per Unit in the Marketplace

question 36

Multiple Choice

Product X sells for $80 per unit in the marketplace and ABC Company requires a 35% minimum profit margin on all product lines.In order to compete in this market, the target cost for Product X must be equal to or lower than:

• A)$28.
• B)$45.
• C)$52.
• D)$80.

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Definitions:

Independent Variable

A variable that is manipulated to determine its effects on a dependent variable in an experiment.

Experiment

Rigorously controlled, replicable procedure in which the researcher manipulates variables to assess the effect of one on the other.

Manipulation

The ability to handle objects with control and intention, often requiring fine motor skills.

Independent Variable

The variable in an experiment that is manipulated or changed to observe its effect on the dependent variable.