题目内容

Consumers are less price sensitive when ________.

A. price is only a small part of the total cost spent on the product over its lifetime
B. they perceive the higher prices to be unjustified
C. they change their buying habits regularly
D. there are many substitutes and competitors in the market
E. they are buying high-cost items

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If demand changes considerably, with a small change in price, the demand is said to be ________.

A. unit elastic
B. elastic
C. inelastic
D. marginal
E. strained

JJ pays overhead each month, including his company's bills for rent, heat, interest, and salaries, which are examples of ________ costs.

A. total
B. average
C. activity-based
D. variable
E. fixed

Costs that differ directly with the level of production are known as ________ costs.

A. fixed
B. overhead
C. opportunity
D. target
E. variable

The decline in the average cost of production with accumulated production experience is called the ________.

A. demand curve
B. supply chain
C. learning curve
D. value chain
E. indifference curve