a ____________ is the maximum price that the government allows sellers to charge. cost - based markup price…

a ____________ is the maximum price that the government allows sellers to charge. cost - based markup price ceiling product line price unit price question 12 3 pts to break even, your minimum selling price must be _________ your variable costs. lower than half of higher than equal to

a ____________ is the maximum price that the government allows sellers to charge. cost - based markup price ceiling product line price unit price question 12 3 pts to break even, your minimum selling price must be _________ your variable costs. lower than half of higher than equal to

Answer

Brief Explanations:

  1. A price ceiling is a government - imposed maximum price. Cost - based markup is related to pricing based on costs and a markup percentage, product line price pertains to the pricing of a group of related products, and unit price is the price per unit of a product.
  2. To break even, total revenue must equal total cost. Total cost = fixed cost+variable cost. If the selling price is equal to variable cost, only variable costs are covered and fixed costs are not, resulting in a loss. The minimum selling price to break even must cover all variable costs and a portion of fixed costs, so it must be higher than variable costs.

Answer:

Question 11: B. price ceiling Question 12: C. higher than