Which of the Following Statements Is True of Costs and Pricing

question 112

Multiple Choice

Which of the following statements is true of costs and pricing decisions?

• A) Companies get profit from selling products only when they are the price makers.
• B) Companies supply products as long as the price the customer is willing to pay for its products exceeds the price that is charged by the competitor.
• C) Companies supply products as long as there is a demand for the product in the market regardless of the price at which the products are sold.
• D) Companies supply products as long as the revenues from selling the additional units exceed the cost of producing them.

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Definitions:

Family-Owned Businesses

Enterprises that are owned and managed by one or more family members across generations.

New Jobs

Roles or positions created within an economy or organization that did not previously exist.

Managerial Approach

A method or strategy employed by managers to guide, control, and operate an organization effectively, focusing on achieving specific objectives.

Novice Entrepreneur

An individual new to starting and running a business, lacking significant experience in entrepreneurship.