[The Following Information Applies to the Questions Displayed Below

question 49

Multiple Choice

[The following information applies to the questions displayed below.]
Summit Products,Inc.is interested in producing and selling an improved widget.Market research indicates that customers would be willing to pay $90 for such a widget and that 50,000 units could be sold each year at this price.The current cost to produce the widget is estimated to be $65.
-Summit has learned that a competitor plans to introduce a similar widget at a price of $80.In response,Summit may reduce its selling price to $80.If Summit requires a 25% return on sales,what is the target cost for the new widget?

• A)$80.00
• B)$60.00
• C)$23.75
• D)$20.00

Identify the importance of personality assessments in professional settings and their implications for productivity.

Understand the emotional and behavioral components of attitudes, including how attitudes towards work and co-workers can affect job performance.

Grasp the significance of intellectual openness for creativity and adaptability in rapidly changing work environments.

Understand the role of social skills in personal and professional success.

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Definitions:

Promissory Note

A written promise to pay a specified sum of money to a certain entity at a specified date or on demand.

Maturity Date

The date on which a financial obligation must be repaid in full.

Promissory Note

A financial instrument containing a written promise by one party to pay a definite sum of money to another party at a specified future date or on-demand.

Account Receivable

The amount customers are required to pay to a firm for goods and services already received but not yet paid for.