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a. Differentiate between variable and fixed costs. Describe the two major behavior patterns. What if a cost has characteristics of both patterns? b. What is

a. Differentiate between variable and fixed costs. Describe the two major behavior patterns. What if a cost has characteristics of both patterns?

b. What is meant by the term break-even point? What is a potential benefit of calculating break-even?

c. Why is the concept of relevant range crucial for understanding fixed-cost behavior?

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