Which of the Following Statements, as Indicators of Product Cost

question 57

Multiple Choice

Which of the following statements, as indicators of product cost systems, are out of date?
i. Highly profitable products are difficult to make.
ii. Competitors' prices appear to be very low.
iii. The market easily absorbs price increases.

• A) i
• B) i and iii
• C) ii and iii
• D) i, ii and iii

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Definitions:

Photosynthesis

A method by which plants and other organisms transform light energy, often from the sun, into chemical energy that can subsequently be utilized to power the organism's functions.

Third Trophic Level

The level in an ecosystem's food chain occupied by secondary consumers, which eat primary consumers.

Herbivore

An animal that feeds on plants or algae. Also called primary consumer.

Ecosystems

Groups of living beings interacting with the inanimate elements of their surroundings as a cohesive system.