Rent, electricity, and executive salaries that do not vary with production or sales level are referred to as costs. a. fixed b. variable c. break-even d. target e. promotional

Acompany's sales in year 1 were $300,000, year 2 were $351,000, and year 3 were $400,000. using year 2 as a base year, the sales percent for year 3 is

Which of the following best explains why the demand for housing is more flexible than the supply? a. new housing developments are being constructed all the time. b. low interest rates for mortgages make buying a home very affordable. c. the increasing population always drives demand upwards. d. people can move more easily than producers can build new homes.

When a market is in equilibrium, the buyers are those with the willingness to pay and the sellers are those with the costs.