Consider the following statements about pricing: I. Prices are often determined by the market, subject to the constraint that costs must be covered in the long run. II. Prices are often based on costs, subject to the constraint that customers and competitors will exert an influence. III. A balance of market forces and cost is important when making pricing decisions.

Diggity dank corporation uses an activity-based costing system with two activity cost pools. diggity dank uses direct labor hours as the measure of activity in the first activity cost pool and the number of orders in the second activity cost pool. the following information relates to these two activity cost pools for last year: what was diggity dank's under- or overapplied overhead for last year? a. $17,000 overapplied b. $20,000 underapplied c. $27,000 underapplied d. $73,000 overapplied

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer

In 1975, mcdonald’s introduced its egg mcmuffin breakfast sandwich, which remains popular and profitable today. this longevity illustrates the idea of: