​Price gouging

A) ​Outlaw trade at prices above a certain price level
B) Outlaw trade at prices below a certain price level
C) Is an act of charging a high price to take advantage of shortages created by natural disasters
D) ​None of the above

Data concerning Bazin Corporation's single product appear below: Fixed expenses are $384,000 per month.The company is currently selling 6,000 units per month.The marketing manager would like to introduce sales commissions as an incentive for the sales staff.The marketing manager has proposed a commission of $9 per unit.In exchange, the sales staff would accept a decrease in their salaries of $46,000 per month.(This is the company's savings for the entire sales staff.) The marketing manager predicts that introducing this sales incentive would increase monthly sales by 500 units.What should be the overall effect on the company's monthly net operating income of this change?

A) increase of $27,500
B) decrease of $64,500
C) increase of $41,500
D) increase of $507,500

​Jim saw a decrease in the quantity demanded for his firm's product from 8000 to 6000 units a week when he raised the price of the product from $200 to $250.What is Jim's own price elasticity of demand?

A) ​1.29
B) 1
C) 0.25
D) ​0.78

Which of the following characteristics is generally representative of developing counties relative to developed countries?

A) a higher rate of literacy
B) a larger percentage of the labor force in urban areas
C) a lower infant mortality rate
D) lower productivity in the agricultural sector

In general, cultural distance impedes ________.

Under variable costing, fixed manufacturing overhead is treated as a product cost.