The Statement on the Toothpaste Box That Brushing Twice a Day

question 150

Multiple Choice

The statement on the toothpaste box that brushing twice a day with this paste would remove 90 percent of all plaque from the user's teeth is an example of which of the following?

• A) a universal warranty
• B) a functional label
• C) an express warranty
• D) an implied warranty

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Definitions:

Accounting Profit

The total revenue of a business minus the explicit costs associated with that revenue, calculated using generally accepted accounting principles (GAAP).

Long Run

A period of time in economics during which all factors of production and costs are variable, allowing for full adjustment to changes.

Short Run

In economics, a period during which at least one of a firm's inputs is fixed and cannot be changed.

Fixed Input

An input in the production process that cannot be changed in the short term, such as buildings or land.