Intermediate The graphs shown below show cost-volume-profit relationships as they are typically represented in (i) management accounting
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Intermediate The graphs shown below show cost-volume-profit relationships as they are typically represented in (i) management accounting and (ii) economic theory. In each graph TR = total revenue, TC =total cost, and P = profit. You are required to compare these different representations of cost-volume-profit relationships, identifying, explaining and commeriting on points of similarity and also differ¬ ences.LO1
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