The Difference Between What a Firm Charges for a Product

question 56

Multiple Choice

The difference between what a firm charges for a product and the variable costs of that product is known as:

• A)variance.
• B)overhead rate.
• C)holding cost.
• D)profit.
• E)margin.

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Definitions:

Granitic Intrusion

The forced entry of magma composed mainly of quartz and feldspar into surrounding rock, cooling and solidifying to form granite.

Salt Dome

A type of geological structure formed when a thick bed of evaporite minerals (mainly salt) found at depth intrudes vertically into surrounding rock layers.

Volcanic Conduit

A pipe-like structure through which magma moves from a magma chamber to the Earth's surface.

Diamond Pipe

A steep, cylindrical- to funnel-shaped volcanic conduit that contains diamonds dispersed in an igneous rock; synonym kimberlite pipe.