Organizing involves setting a course of action for the sport organization.

A company is planning to replace an old machine with a new one. Which of the following is a sunk cost?

A) cost of the new machine B) sales price of the old machine C) future maintenance costs of the old machine D) original cost of the old machine

When demand is ________, increases in price result in increases in total revenues, while decreases in price result in decreases in total revenue

A) elastic B) inelastic C) flexible D) supply-driven E) cross-elastic