30. When a small percentage decrease in price produces a larger percentage increase in quantity demanded, the demand is said to be: a. plastic b.) elastic c. inelastic d. spastic e. tragic 31. Break-Even Analysis is: a a process that investigates the magnitude of difference between marginal revenue and marginal cost. A method of determining just how much a consumer is willing to pay for a product or service. a technique that analyzes the relationship between total revenue and total cost to determine profitability at various levels of output the process of determining the quantity of product consumers will buy relative to the quantity produced by the firm. the process of investigating the relationship between quantity demanded and fixed and variable costs of the firm. b. c. d. e. Which of the following is NOT a competition-based pricing method? a. Loss-leader pricing b. Below-market pricing c. Customary pricing d. Above-market pricing c. 32. 33. Which pricing method is demonstrated by the following statement? "Alternative Pioneering Systems concluded that consumers would be willing to pay Approximately $100 for a food dehydrator. Based on this price, the firm determined margins that would have to be allowed for wholesalers and retailers." a. Prestige pricing b. Price lining c. Skimming pricing d. Target pricing e. Above-,at-, or below market pricing 34. Which of the following would be an example of a variable cost for a publication like SHAPE magazine that is targeted to young women seeking a healthier lifestyle? a. Increase in women in targeted demographics b. Salary of publisher c. Rent for parking deck used by employees d. Paper and ink e. Advertising purchased by new accounts