Fixed Costs Buyers Face If They Change Suppliers Are Called

question 43

Multiple Choice

Fixed costs buyers face if they change suppliers are called

• A) Changing costs.
• B) Switching costs.
• C) Supplier costs.
• D) Exchange costs.
• E) Sunk costs.

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Definitions:

Stimuli

External or internal events that elicit a response from an organism.

Salivary Response

An automatic reaction of the salivary glands producing saliva, often triggered by the sight, smell, or thought of food, demonstrating a classic conditioned response.

Big Mac

A hamburger sold by the international fast-food chain McDonald's, characterized by its two-part sesame seed bun and special sauce.

Behavioral Contrast

A phenomenon in psychology where the rate of response to one stimulus changes when the conditions of reinforcement for another stimulus are modified.