A(n) ________ is a written agreement in which the owner of a piece of property allows an individual or business to use the property for a specified period of time in exchange for payments

A decline in the availability of bicycle handle bars will decrease Huffy Bicycle Company's production of bicycles. This decreased production in turn will reduce Huffy's demand for bicycle seats. This scenario illustrates_____ demand

a. inelastic b. joint c. elastic d. fluctuating

The difference between value of the product and price of the product represents the _______. In business markets, the value provided will likely exceed the price or else the customer will be indifferent

a. cost-plus pricing b. competition-based pricing c. value-based pricing d. customer incentive to purchase