Gibb, Inc Has Just Designed a New Product with a Target

question 69

Multiple Choice

Gibb, Inc. has just designed a new product with a target cost of $54. The company requires new products to have a profit of 25%. What is the target price for the new product?

• A) $13.50
• B) $54.00
• C) $64.00
• D) $72.00

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Definitions:

Isomorphism

The process of convergence where organizations within the same field or industry become increasingly similar to each other over time, often in response to regulatory, competitive, or cultural pressures.

Powell And DiMaggio

They are known for their work in institutional theory, particularly for elaborating on how organizational structures become homogenized through isomorphic processes.

Nonprofit Organization

An organization that operates for purposes other than making a profit, often focused on social, educational, charitable, or community-oriented goals.

Religious Worship

Acts of devotion, adoration, or reverence towards a deity or deities, typically involving rituals or ceremonies specific to a religion.