1.) Explain the meaning of (a) differential revenue, (b) differential cost, and (c) differential profit (loss). (1) 2.) A company could sell a building for $250,000 or lease it for $2,500 per month. What would need to be considered in determining if the lease option would be preferred? (2) 3.) A company fabricates a component at a cost of $6.00. A supplier offers to supply the same component for $5.50. Under what circumstances is it reasonable to purchase from the supplier? (5) 4.) Although the cost-plus approach to product pricing may be used by management as a general guideline, what are some examples of other factors that managers should also consider in setting product prices? (8)