Which of the following statements is true about a product market? a. the cost of labor does not affect the product market because it is an insignificant part of an organization's costs. b. product-market considerations are of particular concern to a company when its customers place greater importance on product rather than price. c. organizations in a product market are competing to serve the same customers. d. product markets typically place a lower limit on the pay an organization will offer its employees. e. organizations in a product market must increase the cost of labor every quarter.

As a group is leaving, you ask them if they had a good experience at the restaurant. they mention that they had poor service and their food was cold. a.apologize and ask them to give the restaurant another chance in the future. you tell them that guests usually have a great experience here. b.apologize then ask for the server’s name and immediately notify the manager after they leave. c.apologize for the bad experience and ask them to wait as you call the manager to talk to them. d.apologize for the bad experience and encourage them to complete the customer service survey. this feedback will ensure other guests do not have the same experience.

For a firm that uses the weighted average method of process costing, which of the following must be true? (a) physical units can be greater than or less than equivalent units. (b) physical units must be equal to equivalent units. (c) equivalent units must be greater than or equal to physical units. (d) physical units must be greater than or equal to equivalent units.

In microeconomics, the point at which supply and demand meet is called the blank price