Question 21 (2 points) The impact of substitutes on price sensitivity is greatest when 1) the outcome is less significant. O 2) someone else is paying the bill. 3) expenditures are broken into smaller pieces. 4) customers can compare prices. 5) the customer wants to switch brands. Question 22 (2 points) Total fixed cost 1) would be zero if the quantity produced were zero. 2) is the sum of those costs that do not change in total no matter how much is produced. 3) may vary in the short run but is more or less fixed in the long run. 4) is the sum of all costs of manufacturing and distributing a product. U 5) is the sum of all expenses that are closely related to output. Question 24 (2 points) Total variable cost 0 1) All these answers are correct. O 2) is zero when the quantity produced is zero. 3) is the sum of those changing expenses that are closely related to output. U4) may increase as the quantity produced is increased