In Arriving at the Quantity of Output and Price of Its

question 95

Multiple Choice

In arriving at the quantity of output and price of its product, a company

• A)chooses either output or price, and consumer demand determines the other.
• B)has no control over either quantity or price.
• C)makes two decisions by setting both optimal output and optimal price.
• D)generally leaves both quantity and price decisions to consumers.

---

Definitions:

Franchise Acquisition

The process of acquiring the rights to operate a business under an established company's brand and system.

Research And Development

Activities related to the innovation, improvement, or development of products or processes.

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in a linear fashion.

Delivery Equipment

Assets such as trucks and vans used by a company for the purpose of delivering products to customers.