The Two Types of Costs a Marketer Needs to Consider

question 112

Multiple Choice

The two types of costs a marketer needs to consider when setting prices are:

• A) primary and secondary
• B) variable and fixed
• C) marginal and absolute
• D) short-term and long-term
• E) elastic and inelastic

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Definitions:

Chemical

A substance produced by or used in a chemical process, characterized by having a specific molecular composition.

Absolute Sensory Threshold

Defined as the minimum intensity of a stimulus that is needed for the stimulus to be detected at least 50% of the time.

Stimulus

Any object or event that elicits a sensory or behavioral response in an organism.

Subliminal

Referring to stimuli or messages presented below the threshold of conscious perception, capable of influencing thoughts, feelings, or actions.