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Short answer - Relevant Costs (answer each question in your own words and in complete sentences) 1. What is a relevant cost? 2. What

Short answer - Relevant Costs (answer each question in your own words and in complete sentences) 1. What is a relevant cost? 2. What is an incremental cost? 3. What is a sunk cost? 4. What is an opportunity cost? 5. Which decision type (dropping a product line, make or buy, use of a constrained resource, sell or process further) considers opportunity costs? Why?

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