Which of the Following Comparisons Best Isolates the Impact That

question 99

Multiple Choice

Which of the following comparisons best isolates the impact that changes in prices of inputs and outputs have on performance?

• A) static planning budget and flexible budget
• B) static planning budget and actual results
• C) flexible budget and actual results
• D) master budget and static planning budget

---

Definitions:

Pure Monopoly

A market structure where a single seller sells a unique product in the market and no close substitutes exist.

Cartel

Market in which some or all firms explicitly collude, coordinating prices and output levels to maximize joint profits.

Price Strategies

Techniques used by companies to price their products or services with a view to maximizing profits or market share.

Marginal Revenue Function

The rate at which total revenue changes with respect to the output quantity change.