Question 47 (1.25 points) Target costing for manufacturing companies is the process of determining the maximum allowable cost for a product and then developing a prototype that can be profitably made for that maximum cost figure. O True O False Question 48 (1.25 points) Holding all other things constant, if the price elasticity of demand increases (i.e., becomes more negative), then the markup under the economists' approach to pricing will be: O higher. O lower. the effect cannot be determined. O remain the same. O none of these