Use the figure below to answer the following questions.
Figure 3.2.2
-Which one of the following would result in the demand curve shifting from D1 to D2 in Figure 3.2.2?
Definitions:
Net Income
The total profit of a company after all expenses and taxes have been subtracted from total revenue.
Variable Costing
An accounting method that only considers variable costs (costs that change with production levels) in determining product cost, excluding fixed costs.
Gross Margin
A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage. It indicates the efficiency with which a company uses its materials and labor to produce and sell products profitably.
Absorption Costing
A costing method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead - in the cost of a product.
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