Kyanite Corporation Reports Costs for 2015 as Follows: How

question 33

Multiple Choice

Kyanite Corporation reports costs for 2015 as follows: How much is the total product costs for 2015?

• A)$30,000
• B)$105,000
• C)$119,000
• D)$75,000

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Definitions:

Price Ceiling

A government-imposed limit on how high a price can be charged on a product or service.

Demand

Demand refers to consumers' willingness and ability to purchase a product or service at a given price.

Supply Conditions

Factors that affect the quantity of a good or service that producers are willing and able to sell at a given price.

Excise Tax

A tax on the manufacture, sale, or consumption of certain goods and services within a country.