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In Milgram's first study of obedience,the majority of "teachers" who were ordered to shock a "learner"
Intangible Costs
Expenses or costs that are not easily quantifiable, including things like brand value, intellectual property, or goodwill.
Variable Costs
Costs that change in direct proportion to sales.
Price Elastic
Refers to how sensitive the demand for a product is to changes in its price; high elasticity indicates demand significantly changes with price adjustments.
Price Inelastic
Describes a situation where the demand for a product does not significantly change with a change in its price.
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