Question: Assume Puffys Pastries increases its operating efficiency by lowering its costs, but holds its sales constant. As a result, given all else constant, the: return

Assume Puffys Pastries increases its operating efficiency by lowering its costs, but holds its sales constant. As a result, given all else constant, the: return on equity will increase. return on assets will decrease. total debt ratio will decrease. net profit margin will decline. price-earnings ratio will increase.

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