The Consider the following events: a. The price of cell phones goes down by 25 percent during a sale. This event would cause a (Click to select) A b. You get a 25 percent raise at your job. This event would cause a (Click to select) a Which of the following statements is true? a. A change in something other than price will mean a movement along an existing demand curve. b. A change in price will cause a shift of the demand curve. c. A change in price will mean a movement along an existing demand curve. d. A change in income will cause a movement along the demand curve.

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)