What is a price taker - Study guides, Class notes & Summaries
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WGU D101 Cost and Managerial Account ing 2024/2025 with detailed answer
- Exam (elaborations) • 38 pages • 2024
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what is a price taker?-answerA company that has to accept the price that the market sets for a good. They have no influence over 
setting the price. 
What is a price maker?-answera firm possessing the power to set the price within the market. They still need to track all costs in order 
to make sure they are making an adequate retur
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WGU D101 Cost and Managerial Accounting Questions with complete solution 2024
- Exam (elaborations) • 46 pages • 2024
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WGU D101 Cost and Managerial Accounting Questions with complete solution 2024 What is a price taker? - correct answer A company that has to accept the price that the market sets for a good. They have no influence over setting the price. 
 
What is a price maker? - correct answer a firm possessing the power to set the price within the market. They still need to track all costs in order to make sure they are making an adequate return. 
 
What is the major purpose and use of job order costing? ...
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WGU D101 Cost and Managerial Accounting Exam Questions and Answers 2024.
- Exam (elaborations) • 28 pages • 2024
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WGU D101 Cost and Managerial Accounting Exam Questions and Answers 2024. 
What is a price taker? - ANSWER A company that has to accept the price that the 
market sets for a good. They have no influence over setting the price. 
What is a price maker? - ANSWER a firm possessing the power to set the price within 
the market. They still need to track all costs in order to make sure they are making an 
adequate return. 
What is the major purpose and use of job order costing? 
a. To create a system th...
-
WGU D101 Cost and Managerial Accounting Exam Questions and Answers 2024.
- Exam (elaborations) • 28 pages • 2024
- Available in package deal
-
- $12.99
- + learn more
WGU D101 Cost and Managerial Accounting Exam Questions and Answers 2024. 
What is a price taker? - ANSWER A company that has to accept the price that the 
market sets for a good. They have no influence over setting the price. 
What is a price maker? - ANSWER a firm possessing the power to set the price within 
the market. They still need to track all costs in order to make sure they are making an 
adequate return. 
What is the major purpose and use of job order costing? 
a. To create a system th...
-
WGU D101 Cost and Managerial Accounting 2024/2025 with Verified Solutions
- Exam (elaborations) • 37 pages • 2024
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WGU D101 Cost and Managerial 
Accounting 2024/2025 with Verified Solutions 
What is a price taker? - Answer -A company that has to accept the price that the market sets for a good. 
They have no influence over setting the price. 
What is a price maker? - Answer -a firm possessing the power to set the price within the market. They 
still need to track all costs in order to make sure they are making an adequate return. 
What is the major purpose and use of job order costing? 
a. To create a system...
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WGU D101 Cost and Managerial Accounting questions and answers
- Exam (elaborations) • 101 pages • 2024
- Available in package deal
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- $14.99
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What is a price taker? 
A company that has to accept the price that the market sets for a good. They have no influence over setting the price. 
 
 
 
What is a price maker? 
a firm possessing the power to set the price within the market. They still need to track all costs in order to make sure they are making an adequate return. 
 
 
 
What is the major purpose and use of job order costing? 
 
a. To create a system that tracks both manufacturing and period costs and assigns both to products 
 
b...
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WGU D101 COST AND MANAGERIAL ACCOUNTING EXAM 2024 WITH GUARANTEED CORRECT ANSWERS
- Exam (elaborations) • 66 pages • 2024
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What is a price taker? - correct answer A company that has to accept the price that the market sets for a good. They have no influence over setting the price. 
 
What is a price maker? - correct answer a firm possessing the power to set the price within the market. They still need to track all costs in order to make sure they are making an adequate return. 
 
What is the major purpose and use of job order costing? 
 
a. To create a system that tracks both manufacturing and period costs and assig...
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Ivy Software MBA Prepworks Fundamentals of Economics Exam - Complete Solutions (Answered)
- Exam (elaborations) • 32 pages • 2024
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Ivy Software MBA Prepworks Fundamentals of Economics Exam 
- Complete Solutions (Answered) The main concept demonstrated in the production possibilities frontier is Opportunity cost When country A has a lower opportunity cost of producing sugar relative to country B, then country A is said to have Comparative Advantage A graph that shows the combinations of two goods that the economy can produce given the available scarce resources and available technology is called a Production Possibilities...
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WGU C718 Full Study Guide Questions | 104 Questions with 100% Correct Answers | Verified | Latest Update | 25 Pages
- Exam (elaborations) • 25 pages • 2024
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WGU C718 Full Study Guide Questions | 104 
Questions with 100% Correct Answers | 
Verified | Latest Update | 25 Pages 
What is the definition of economics? - Answer ️️ -the study of how humans make decisions in 
the face of scarcity 
What are economic and accounting profits? - Answer ️️ -Accounting - profit computed using 
only explicit costs 
Total revenue - Explicit costs = accounting profit 
Economic - profit computed using explicit and implicit costs 
Total revenue - Explicit costs -...
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WGU C718 Full Study Guide Questions | 104 Questions with 100% Correct Answers | Verified | Latest Update | 25 Pages
- Exam (elaborations) • 25 pages • 2024
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- $12.49
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WGU C718 Full Study Guide Questions | 104 
Questions with 100% Correct Answers | 
Verified | Latest Update | 25 Pages 
What is the definition of economics? - Answer ️️ -the study of how humans make decisions in 
the face of scarcity 
What are economic and accounting profits? - Answer ️️ -Accounting - profit computed using 
only explicit costs 
Total revenue - Explicit costs = accounting profit 
Economic - profit computed using explicit and implicit costs 
Total revenue - Explicit costs -...
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