Exhibit 1-3 -In Exhibit 1-3,for Any Value of X,the

question 46

Multiple Choice

Exhibit 1-3
-In Exhibit 1-3,for any value of x,the

• A)value of y is larger on curve A than on curve B
• B)value of y is smaller on curve A than on curve B
• C)value of y is the same on curve A as on curve B
• D)slope of line A is increasing
• E)slope of line B is negative

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Definitions:

Preset Costs

Preset costs are predetermined expenses that a company expects to incur in the carrying out of its operations.

Product

A good or service that is created through a process and is available for sale to consumers.

Service

The act of providing assistance or benefits to customers or clients without the sale of tangible goods.

Price Variances

A measurement of the difference between the actual cost of a good or service and its expected cost.