Question
Match the right definition with the correct word Vocab: - Cost Equation - Variable Costs - Mixed Cost - Fixed Costs - Step Costs -
Match the right definition with the correct word
Vocab:
- Cost Equation
- Variable Costs
- Mixed Cost
- Fixed Costs
- Step Costs
- Curvilinear Costs
- Relevant Range
Definition:
- Cost behavior that is not linear
- Cost behavior is fixed over small ranges of activity, and jumps to different fixed levels with small changes in volume
- Have both variable cost and fixed cost components
- The band of volume where total fixed costs and variable cost per unit remain constant
- Cost incurred each unit
- A mathematical equation (for a straight line) that expresses cost behavior
- Costs that do not change in total despite wide changes in volume
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