Q&A Hero

Q: North America's largest Smart TV company is A. Samsung. B. Panasonic. C. LG. D. Sony. E. Vizio.

Q: All of the following are examples of pricing objectives EXCEPT: A. market share. B. survival. C. unit sales. D. social responsibility. E. competitors' prices.

Q: Which of the following statements regarding pricing objectives is most accurate? A. Pricing objectives should never change. B. Pricing objectives may change depending on the financial position of the company. C. Pricing objectives may change depending upon the relative market share of competitors. D. Pricing objectives are established exclusively by the marketing department. E. Pricing objectives are extremely sensitive to even the slightest change in the local economy.

Q: Pricing objectives refer toA. reconciling the prices charged by an organization to the values set forth in its business mission.B. taking specific steps to capitalize on an organization's internal strengths as they apply to price.C. specifying the role of price in an organization's marketing and strategic plans.D. taking specific steps to compensate for an organization's weaknesses as they apply to price.E. subjectively setting intrinsic values to all products and services offered by an organization.

Q: Specifying the role of price in an organization's marketing and strategic plans is referred to as A. choosing a pricing plan. B. defining a profit mission. C. developing pricing constraints. D. setting pricing objectives. E. determining the list or quoted price.

Q: While pricing objectives frequently reflect corporate goals, pricing constraints often relate to A. stockholder demands. B. political ideology. C. conditions existing in the marketplace. D. an organization's code of ethics. E. the financial realities within the organization itself.

Q: Jason decided to open a small Internet caf serving a variety of unusual nonalcoholic beverages from around the world. He set a goal to break-even within the first six months and make a moderate profit thereafter. Within a week of opening, every seat was filled and he had to replenish inventory several times. At his six-month review, he was devastated to find that despite huge sales, he had actually lost money. His math was not wrong, but he had failed to include monthly expenses such as toilet paper, paper towels, and hand soap in his calculations. These costs should have appeared as __________ in his break-even analysis. A. fixed costs B. marginal costs C. variable costs D. overhead costs E. sunk costs

Q: Figure 11-6 Assuming there is no change in a product's price or the quantity demanded, if a business owner wants to increase her advertising expenses to a by $500 monthly, this would cause total costs to __________ and the break-even quantity to __________. A. decrease; stay the same B. increase; increase C. decrease; increase D. stay the same; increase E. increase; decrease

Q: Figure 11-6 Suppose you are the owner of a picture frame store and you wish to calculate how many pictures you must sell to cover your fixed and variable costs at a given price. Let's assume that the demand for your pictures is strong, so the average price customers are willing to pay for each picture frame is $120. Also, suppose your fixed costs (FC) total $32,000 (real estate taxes, interest on a bank loan, etc.) and unit variable cost (UVC) for a picture frame is $40 (labor, glass, frame, and matting). If your picture frame store sold 2,000 picture frames, what would your profit or loss be? A. a loss of $32,000 B. $0 - just able to break-even C. $32,000 profit D. $112,000 profit E. $128,000 profit

Q: Figure 11-6 Suppose you are the owner of a picture frame store and you wish to calculate how many pictures you must sell to cover your fixed and variable costs at a given price. Demand for pictures is strong, so the average price customers are willing to pay for each picture frame is $120. Also, suppose your fixed costs (FC) total $32,000 (real estate taxes, interest on a bank loan, etc.) and unit variable cost (UVC) for a picture frame is $40 (labor, glass, frame, and matting). What is the quantity of picture frames you will need to sell to break-even? A. 200 picture frames B. 400 picture frames C. 800 picture frames D. 1,600 picture frames E. 2,000 picture frames

Q: Figure 11-6 Suppose you are the owner of a picture frame store. Let's assume that the average price customers are willing to pay for each picture frame is $120. Also, suppose your fixed costs (FC) total $32,000 (real estate taxes, interest on a bank loan, etc.) and unit variable cost (UVC) for a picture frame is $40 (labor, glass, frame, and matting). Figure 11-6 above shows that by selling 800 picture frames, you will A. break even. B. earn a profit. C. incur a loss. D. have no fixed costs. E. have no variable costs.

Q: Figure 11-6 Suppose you are the owner of a picture frame store. Let's assume that the average price customers are willing to pay for each picture frame is $120. Also, suppose your fixed costs (FC) total $32,000 (real estate taxes, interest on a bank loan, etc.) and unit variable cost (UVC) for a picture frame is $40 (labor, glass, frame, and matting). According to Figure 11-6 above, how much profit will your picture frame store make if it sells 400 picture frames? A. $48,000 B. $32,000 C. $16,000 D. $0 E. ($32,000)

Q: Figure 11-6 Suppose you are the owner of a picture frame store. Let's assume that the average price customers are willing to pay for each picture frame is $120. Also, suppose your fixed costs (FC) total $32,000 (real estate taxes, interest on a bank loan, etc.) and unit variable cost (UVC) for a picture frame is $40 (labor, glass, frame, and matting). Figure 11-6 above shows that by selling 200 pictures, your picture frame store will A. break even. B. earn a profit. C. incur a loss. D. have no fixed costs. E. have no variable costs.

Q: Figure 11-6 In Figure 11-6 above, which is a break-even chart that depicts a graphic presentation of a break-even analysis for a picture frame store, the area CGD represents the firm's A. fixed costs. B. break-even point. C. variable costs. D. profit. E. total revenue.

Q: Figure 11-6 In Figure 11-6 above, which is a break-even chart that depicts a graphic presentation of a break-even analysis for a picture frame store, the triangular area GAF represents the firm's A. fixed costs. B. break-even point. C. variable costs. D. profit. E. total revenue.

Q: Figure 11-6 In Figure 11-6 above, which is a break-even chart that depicts a graphic presentation of a break-even analysis for a picture frame store, the triangular area FBE represents the firm's A. fixed costs. B. break-even point. C. variable costs. D. profit. E. total revenue.

Q: Figure 11-6 In Figure 11-6 above, which is a break-even chart that depicts a graphic presentation of a break-even analysis for a picture frame store, the rectangular area EBCD represents the firm's A. fixed costs. B. break-even point. C. variable costs. D. profit. E. total revenue.

Q: Figure 11-6 In Figure 11-6 above, which is a break-even chart that depicts a graphic presentation of a break-even analysis for a picture frame store, the red (darkest) wedge ABC represents the firm's A. fixed costs. B. break-even point. C. loss. D. profit. E. total revenue.

Q: Figure 11-6 In Figure 11-6 above, which is a break-even chart that depicts a graphic presentation of a break-even analysis for a picture frame store, point A identifies the firm's __________ point. A. loss B. price C. margin D. profit E. break-even

Q: Figure 11-6 Figure 11-6 above depicts a __________. A. Gantt chart B. demand curve C. break-even chart D. ROI analysis E. cross-tabulation

Q: A break-even chart refers to a graphic presentation A. that shows the maximum number of units that will be sold at a certain price. B. that shows when total revenue and total cost intersect to identify profit or loss for a given quantity sold. C. that relates variable costs in terms of product or service substitutes in order to determine which items or services would least affect total revenues. D. that relates profits and revenues versus total costs in order to determine the time frame in which a company could achieve profitability. E. is a form of scatter graph used to identify specific activities or items that are creating the greatest return on investment.

Q: A graphic presentation of the break-even analysis that shows when total revenue and total cost intersect to identify profit or loss for a given quantity sold is referred to as a(n) __________. A. Gantt chart B. demand curve C. ROI analysis D. cross-tabulation E. break-even chart

Q: Figure 11-5 Jane Westerlund owns a picture frame store and has generated a spreadsheet of several calculations based on different quantity, price, revenue, cost, and profit scenarios shown in Figure 11-5 above. Of the following options, at what sales level is profit maximized? A. 0 B. 400 C. 800 D. 1,600 E. 2,000

Q: Figure 11-5 Jane Westerlund owns a picture frame store and has generated a spreadsheet of several calculations based on different quantity, price, revenue, cost, and profit scenarios shown in Figure 11-5 above. What is the break-even point quantity for her picture frame store? A. 0 B. 400 C. 800 D. 1,200 E. 2,000

Q: Ampro-Mag is a small company that makes materials for safely controlling hazardous spills of all kinds. It sells these items as a neutralizing kit priced at $100. The costs of the materials that go into each kit are $45. It costs $5 in labor to assemble a kit. The company has monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $500 for advertising in trade journals, and $3,500 for the monthly salary of its owner. What is Ampro-Mag's monthly break-even point in terms of number of neutralizing kits sold? A. 40 kits B. 52 kits C. 104 kits D. 116 kits E. 520 kits

Q: Tim Marlow, the owner of The Clock Works, wanted to know how many clocks he must sell in order to cover his fixed cost at a given price. Tim knew that he had total fixed costs of $20,000 for equipment, taxes, and a bank loan. He also had a unit variable cost of $20 per clock for labor and materials. If the price Tim charges for each of his clocks is $40, what is his break-even point quantity? A. 100 clocks B. 334 clocks C. 500 clocks D. 1,000 clocks E. 10,000 clocks

Q: You are selling a new line of T-shirts on the boardwalk. The selling price will be $25 per shirt. The labor cost is $5 per shirt. The administrative costs of operating the company are estimated to be $60,000 annually and the sales and marketing expenses are $20,000 a year. Additionally, the cost of materials will be $10 per shirt. What is the break-even quantity? A. 2,000 shirts B. 3,200 shirts C. 5,334 shirts D. 8,000 shirts E. 16,000 shirts

Q: Each month, the owner of a carwash pays $2,500 in rent, $500 in utilities, $750 interest on the business loan, an insurance premium of $200, and $250 on advertising on local bus routes. A full-service carwash is priced at $10.50. Unit variable costs for the carwash are $7.50. At what level of revenue will the carwash break-even? A. $4,200 B. $10,500 C. $14,700 D. $30,000 E. $39,900

Q: The owner of a take-out fried chicken and biscuits restaurant pays each month $2,500 in rent, $500 in utilities, $750 loan interest, $200 insurance premium, and $250 on local bus advertising. A bucket of chicken is priced at $9.50. Variable costs for the bucket are $5.50. How many buckets of chicken does the restaurant need to sell to break-even each month? A. 442 buckets B. 764 buckets C. 1,050 buckets D. 3,150 buckets E. 4,200 buckets

Q: The break-even point (BEP) = [Fixed cost (__________ - Unit variable cost)]. A. Total cost B. Total expense C. Fixed cost D. Unit variable cost E. Unit price

Q: The break-even point (BEP) = [__________ (Unit price - Unit variable cost)]. A. Total cost B. Total expense C. Fixed cost D. Unit variable cost E. Total number of units produced or quantity

Q: The break-even point (BEP) = [Fixed cost (Unit price - __________)]. A. Total cost B. Total expense C. Marginal revenue D. Unit variable cost E. Total number of units produced or quantity

Q: The quantity at which total revenue and total cost are equal is referred to as (the) A. tipping point. B. profitability point. C. incremental return on investment. D. break-even point. E. zero margin.

Q: A technique that analyzes the relationship between total revenue and total cost to determine profitability at various levels of output is referred to as __________. A. break-even analysis B. marginal analysis C. sensitivity analysis D. market analysis E. tipping point analysis

Q: Break-even analysis refers to A. a process that investigates the difference between marginal revenue and marginal cost. B. a method of determining just how much a consumer is willing to pay for a product or service. C. a technique that analyzes the relationship between total revenue and total cost to determine profitability at various levels of output. D. the process of determining the quantity of product consumers will buy relative to the quantity produced by the firm. E. the graph that shows the maximum number of products consumers will buy at a given price.

Q: Forever Quilting is a small company that makes quilting kits priced at $120. The costs of the materials that go into each kit total $45. It costs $5 in labor to assemble a kit. The company has monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $500 for advertising, and $4,500 for the monthly salary of its owner. Forever Quilting's unit variable cost for its kits is A. $5. B. $45. C. $50. D. $120. E. $170.

Q: The unit variable cost (UVC) equals variable cost (VC) divided by __________. A. quantity (Q) B. fixed costs (FC) C. total cost (TC) D. total revenue (TR) E. price per unit of the product (P)

Q: Unit variable cost refers to variable cost expressed A. as the sum of all units sold. B. on a per unit basis for a product. C. as a percentage of total sales. D. as a percentage of fixed costs. E. as a percentage of total costs.

Q: Which of the following is a typical example of a variable cost? A. shipping costs B. rent on a building C. executive salaries D. insurance premiums E. leases on delivery trucks

Q: The sum of the expenses of the firm that change with the quantity of the product that is produced and sold is referred to as A. fixed cost. B. total cost. C. marginal cost. D. unit cost. E. variable cost.

Q: Variable cost refers to A. the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold. B. the sum of the expenses of the firm that change with the quantity of a product that is produced and sold. C. the total expense incurred by a firm in producing and marketing a product, which equals the sum of fixed cost and marginal cost. D. the average amount of money received for selling one unit of a product or simply the price of that unit. E. the change in total cost that results from producing and marketing one additional unit of a product.

Q: Which of the following would be an example of a fixed cost for a company that makes carbon monoxide monitoring systems for employees to wear that work in hazardous areas? A. the lithium batteries that are used in each monitor B. the chest harness used to wear the monitor C. the insurance for the company's factory D. the free training videos that are sent to each new customer E. the stainless steel, water-resistant cases in which the monitors are contained

Q: Which of the following is a typical example of a fixed cost? A. taxes B. raw materials C. sales commissions D. building rental expense E. hourly wages

Q: Rent, executive salaries, and insurance are typical examples of A. variable costs. B. fixed costs. C. unit costs. D. marginal costs. E. total costs.

Q: The sum of the expenses of a firm that is stable and does not change with the quantity of the product that is produced and sold is referred to as A. fixed cost. B. total cost. C. variable cost. D. marginal cost. E. overhead cost.

Q: Fixed cost refers to A. the sum of the expenses of the firm that vary directly with the quantity of a product that is produced and sold. B. the total expense incurred by a firm in producing and marketing a product, which equals the sum of overhead cost and variable cost. C. the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold. D. the average amount of money received for selling one unit of a product or simply the price of that unit. E. the change in expenses that results from producing and marketing one additional unit of a product.

Q: Total cost refers to A. the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold. B. the change in expenses that results from producing and marketing one additional unit of a product. C. the average amount of money received for selling one unit of a product or simply the price of that unit. D. the sum of the expenses of the firm that vary directly with the quantity of a product that is produced and sold. E. the total expense incurred by a firm in producing and marketing a product, which equals the sum of fixed cost and variable cost.

Q: The total expense incurred by a firm in producing and marketing a product, which equals the sum of fixed cost and variable cost, is referred to as A. overhead cost. B. total cost. C. unit cost. D. average cost. E. marginal cost.

Q: Four cost concepts are important in pricing decisions: total cost, variable cost, unit variable cost, and __________. A. dividend cost B. liquidity cost C. discretionary cost D. fixed cost E. elastic cost

Q: Forever Quilting is a small company that makes quilting kits priced at $120 each. There is no quantity discount. The costs of the materials that go into each kit total $45. It costs $5 in labor to assemble a kit. The company has monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $500 for advertising, and $4,500 for the monthly salary of its owner. Last month the company sold 150 kits. Forever Quilting's total revenue for the month was A. $4,300. B. $6,200. C. $7,500. D. $10,500. E. $18,000.

Q: SHAPE magazine is targeted at young women seeking healthier lifestyles. At a price of $3.00 per copy, 1.25 million copies are sold. If the price per issue is increased to $3.25, only 1 million copies would be sold. Fixed costs are $1 million and unit variable costs are $0.50 per magazine. From the information provided here, what is SHAPE magazine's total revenue obtained at the lower $3.00 price? A. $3,750,000 B. $3,250,000 C. $3,000,000 D. $2,125,000 E. $1,750,000

Q: Total revenue refers to A. the profit made from selling a product or service. B. the net gain in sales revenue if the unit price is lowered. C. the least number of units sold needed to cover product, distribution, and promotional costs. D. the amount at which marginal costs exceed fixed costs. E. the total money received from the sale of a product.

Q: The total money received from the sale of a product is referred to as __________. A. profit B. total revenue C. average revenue D. marginal revenue E. derived demand

Q: The manufacturer of a new kind of fat-free ice cream that has the consistency and taste of regular ice cream is thinking of using a penetration pricing strategy for its new product. Which of the following conditions would argue AGAINST using a penetration pricing strategy for the tasty fat-free ice cream? A. The ice cream market is highly elastic. B. A large portion of the market has inelastic demand for ice cream over a broad range of prices. C. Economies of scale in production would be substantial. D. Retailers are not willing to pay for new brands of premium ice cream in the already overcrowded category. E. Once the initial price is set, it is nearly impossible to lower prices without alienating buyers.

Q: If a firm finds the demand for one of its products is inelastic, it can increase its total revenues by A. lowering its price. B. increasing fixed costs only. C. increasing variable costs only. D. increasing both fixed and variable costs. E. raising its price.

Q: Inelastic demand exists when A. a small percentage decrease in price produces a smaller percentage increase in quantity demanded. B. a small percentage increase in price produces a larger percentage increase in quantity demanded. C. an increase in price is impossible due to government restrictions. D. the quantity demanded remains the same regardless of any changes in marketing strategies. E. a small percentage decrease in price produces a smaller percentage increase in quantity supplied.

Q: Several companies produce latex gloves that are used in a variety of different industries. If one of the glove manufacturers decreases its price by just a few percentage points, it will result in a significant increase in quantity demanded. The demand for latex gloves is A. synergistic. B. inelastic. C. unitary. D. elastic. E. static.

Q: Elastic demand exists whenA. a small percentage decrease in price produces a smaller percentage increase in quantity demanded.B. a small percentage decrease in price produces a larger percentage increase in quantity demanded.C. an increase in price causes a larger increase in quantity demanded.D. the quantity demanded remains the same regardless of level of price.E. no change in price produces a small percentage change in quantity demanded.

Q: For the sake of simplicity and by convention, price elasticity figures are shown as __________. A. positive numbers (0.64, 1.25, etc.) B. negative numbers (-0.64, -1.25, etc.) C. Greek letters (u00e2u02c6u2018, u00e2u02c6u008f, etc.) D. Roman numerals (I, V, X, etc.) E. English consonants (P, Q, TR, etc.)

Q: Price elasticity of demand (E) is expressed as (u00e2u02c6u2020 means change): A. E = Percentage change in price (%u00e2u02c6u2020 in P) Percentage change in quantity demanded (%u00e2u02c6u2020 in Q). B. E = Price (P) Quantity demanded (Q). C. E = Percentage change in quantity demanded (%u00e2u02c6u2020 in Q) Percentage change in price (%u00e2u02c6u2020 in P). D. E = Quantity demanded (Q) Price (P). E. E = Quantity demanded (Q) Price (P).

Q: Which of the following illustrates a shift in the demand curve?A. When prices remain the same, there is a significant decrease in demand.B. As the price is raised, the quantity demanded increases, assuming all else stays the same.C. When prices remain the same, there is an increase or decrease in demand.D. As the price is lowered, the quantity demanded decreases, assuming all else stays the same.E. An internal matter has forced a price change of some type, but it does not impact demand.

Q: A shift of the demand curve from D1 to D2 in Figure 11-3B above indicates A. fewer units are demanded at the given price. B. more units are demanded at the given price. C. the price has decreased. D. the price has increased. E. there is not enough information given to indicate what happened.

Q: Which of the following statements most likely would account for the shift in the demand curve from D1 to D2 shown in Figure 11-3B above? A. The firm increased its prices and consumers perceived the value of the product to be greater. B. There were fewer product substitutes available in the marketplace. C. Competitors in the market raised their prices. D. A recession occurred that raised consumers' incomes. E. The firm's price remained the same but changes occurred in consumer tastes.

Q: Figure 11-3BIn Figure 11-3B above, the demand curve shifts from D1 to D2. This most likely representsA. an increase in demand that did not require a change in price but was the result of a change in one or more demand factors.B. an increase in demand that required a decrease in price.C. no change in price and a decrease in demand that results from internal business practice changes.D. no change in demand or price but a greater profit due to economies of scale.E. an decrease in price from $8 to $6 per unit.

Q: Figure 11-3BFigure 11-3B above shows that when the quantity demanded for Red Baron frozen cheese pizzas moves from 2 to 3 million units from the demand curve D1 to the demand curve D2, the profitA. Figure 11-3B does not indicate what happens to profit when the quantity demanded changes.B. increases from $2 to $3 per unit.C. stays the same per unit.D. increases from $6 to $8 per unit.E. decreases from $8 to $6 per unit.

Q: Which of the following illustrates movement along the demand curve?A. Prices remain the same, but there is a significant increase in demand.B. Prices remain the same, but there is a significant decrease in demand.C. As the price is raised, the quantity demanded increases, assuming all demand factors stay the same.D. As the price is lowered, the quantity demanded increases, assuming all demand factors stay the same.E. Movement along the curve indicates that some significant event has taken place outside the organization that has affected demand.

Q: Figure 11-3A Figure 11-3A above shows that when the quantity demanded for Red Baron frozen cheese pizzas moves from 2 to 3 million units along the demand curve D1, the profit A. increases from $6 to $8 per unit. B. decreases from $8 to $6 per unit. C. stays the same per unit. D. increases from $2 to $3 per unit. E. impacts cannot be determined. Figure 11-3A does not indicate what happens to profit when the quantity demanded changes.

Q: Figure 11-3A Figure 11-3A above shows that when the price for Red Baron frozen cheese pizzas moves from $8 to $6 per unit along the demand curve D1, the quantity demanded A. increases from 2 to 3 million units per year. B. decreases from 3 to 2 million units per year. C. stays the same. D. increases from 6 to 8 million units per year. E. decreases from 8 to 6 million units per year.

Q: Mrs. Renfro's, Inc., sells 25 different relishes in 45 different states. It's Chipotle Corn Salsa is so popular that the company struggles to keep its resellers stocked. At $4.50 a jar, its price seems just right to consumers who savor its hot and spicy taste. The popularity of spicy food is an example of a __________ that Mrs. Renfro's has capitalized on here. A. barter factor B. demand factor C. supply factor D. consumer index E. macroeconomic environmental factor

Q: There are a lot of skateboards on the market, but the BMW Streetcarver is the only one with stabilizers and wheel design based on BMW's automobiles. This technology gives the BMW Streetcarver better control at high speeds and around sharp turns than any other brand. The skateboard is priced at $495, which leaves many consumers who might want to buy the Streetcarver (especially young males) unable to afford it. This inability to pay for the high-priced BMW-made skateboard shows the affect of __________ on sales. A. demand factors B. macroeconomic environmental factors C. barter factors D. supply factors E. exchange parameters

Q: Which of the following statements about the factors that influence demand is true? A. As the availability of close substitutes increases, the demand for a product increases. B. As real consumer income increases, the demand for a product increases. C. As the price of close substitutes increases, the demand for a product declines. D. Changing consumer tastes have little impact on the demand for a product. E. As real consumer income decreases, the demand for a product increases.

Q: While the demand factors of consumer tastes and price and availability of similar products determine what consumers want to buy, consumer income determines A. where they buy. B. the degree of brand loyalty. C. the degree of repeat buys. D. what they can buy. E. their desire to buy.

Q: When estimating demand, price is not the only factor to be considered. Three other elements emphasized by economists are consumer tastes, price and availability of similar products, and A. consumer income. B. consumer psychographics. C. size of the target market. D. current political agendas. E. regulatory environment.

Q: All of the following are demand factors EXCEPT: A. the price of similar products. B. consumer tastes. C. consumer income. D. the availability of similar products. E. the number of distribution outlets carrying the product.

Q: Demand factors refer to A. the number of consumers who can afford to purchase a product or service. B. the price that should be charged for a given product. C. consumers' willingness and ability to pay for products and services. D. the number of consumers who want to purchase a product. E. the number of consumers who can purchase a product.

Q: Factors that determine consumers' willingness and ability to pay for products and services are referred to as A. supply factors. B. demand factors. C. affordability factors. D. elasticity factors. E. macro environmental factors.

Q: A demand curve graph typically appears as A. a parabola with the apex representing the highest price that can be charged without losing customers. B. a diagonal line going from upper left to lower right demonstrating that as price goes down, demand goes up. C. an inverted parabola with the lowest point representing the lowest price that can be charged and still meet the company's profit objectives. D. a diagonal line going from lower left to upper right demonstrating that as prices go up, demand goes up proportionately. E. two intersecting lines that identify the point at which supply and demand are exactly the same.

Q: The vertical axis of a demand curve graph represents __________. A. market growth rate B. relative market share C. price per unit D. potential profit in dollars E. quantity demanded

Q: The horizontal axis of a demand curve graph represents __________. A. market growth rate B. relative market share C. price per unit D. potential profit in dollars E. quantity demanded

Q: A demand curve refers to a graph that relates A. the quantity sold and price, which shows the maximum number of units that will be sold at a given price. B. the quantity sold and price, which shows the minimum number of units that must be sold to break even. C. the quantity sold and price, which shows the minimum number of units that must be sold in order to make a profit. D. total production costs to various price points in order to determine how many units must be sold in order to realize a predetermined profit. E. primary demand to selective demand.