The markup pricing technique involves determining the selling price of a good by adding a profit markup to minimum average cost. This would result in maximum profits only if

a. average cost were constant.
b. the markup were zero.
c. the markup varied with the elasticity of demand.
d. demand were inelastic.


c

Economics

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In reference to table 22.1, the $600 paid in property taxes counts as

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If the percent change in real GDP is 5 percent and inflation rate is 1 percent, what is the percent change in nominal GDP?

A. 2 percent. B. 4 percent. C. 0 percent. D. 6 percent.

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