Use the Following Information for Questions

question 52

Multiple Choice

Use the following information for questions
Matlin Corp.'s trial balance of income statement accounts for the year ended December 31, 2011 included the following:

-Cost of goods manufactured is

• A)$70,000.
• B)$82,000.
• C)$53,000.
• D)$50,000.

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Definitions:

Elastic

Refers to a market for a product or service that is price sensitive; that is, relatively small changes in price will generate fairly large changes in the quantity demanded.

Specific Brand

A particular brand that is identified by its unique name, symbol, or design, used to distinguish it from other brands within the same category.

Deodorant

A personal care product applied to the body to prevent or mask odor caused by the bacterial breakdown of perspiration.

Competitor-Oriented Pricing

A pricing strategy where a company sets its prices based on competitors' prices rather than solely on its own costs or consumer demand.