A firms profit equation demonstrates that profit equals or A Total Cost Total

# A firms profit equation demonstrates that profit

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41. A firm's profit equation demonstrates that profit equals __________, or __________. A. Total Cost + Total revenue; (Unit price ×Quantity sold) - (Fixed cost + Variable cost)B. Total Revenue - Total Cost; (Unit price ×Quantity sold) - (Fixed cost + Variable cost)C. Total Cost - Marginal cost; (Fixed cost + Variable cost) /(Unit price ×Quantity sold)D. Total Cost - Variable cost; (Fixed cost + Variable cost) + (Unit price ×Quantity sold)E. Total Revenue + Total Cost; (Unit price ×Quantity sold) - (Fixed cost + Variable cost) 13-13 Chapter 13 - Building the Price Foundation 42. The formula, Total Revenue - Total Cost, or (Unit price ×Quantity sold) - (Fixed cost + Variable cost) represents __________. Figure 13-2 43. Figure 13-2 represents the six distinct steps in the pricing process. Cell "A" represents the step at which a firm would A. raise initial capital. B. identify pricing objectives and constraints. C. scan competitors for price lines for similar products or service. D. select the appropriate pricing formula. E. establish the lowest and highest possible price range. 44. Figure 13-2 represents the six distinct steps in the pricing process. Cell "B" represents the step at which a firm would 13-14 Chapter 13 - Building the Price Foundation 45. Figure 13-2 represents the six distinct steps in the pricing process. Cell "C" represents the step at which a firm would 46. Figure 13-2 represents the six distinct steps in the pricing process. Cell "D" represents the step at which a firm would A. estimate demand and revenue.B. select an approximate price level.C. scan competitors for price lines for similar products or service.D. determine cost, volume, and profit relationships.E. establish the lowest and highest possible price range. 47. Figure 13-2 represents the six distinct steps in the pricing process. Cell "E" represents the step at which a firm would 48. Figure 13-2 represents the six distinct steps in the pricing process. Cell "F" represents the step at which a firm would A. set list or quoted price. B. select an approximate price level.  #### You've reached the end of your free preview.

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