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Cost Analysis Assignment

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Economic Cost Analysis Assignment calculation about Sunk cost, incremental cost, Fixed cost and Variable cost

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Cost Analysis Assignment
Topics this document covers:
Costs Business economics Economy Business Total cost Cost curve Average cost Marginal cost Average variable cost Variable cost Cost Long run and short run
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Topics this document covers:
Costs Business economics Economy Business Total cost Cost curve Average cost Marginal cost Average variable cost Variable cost Cost Long run and short run
Sample Text:
For example, if a company bought a piece of machinery five years ago, that amount of money has already been spent and cannot be recovered. Incremental costs: are the added costs of a change in the level or nature of activity , for exampleany kind of change-adding a new product, changing distribution channels, adding new machinery. The incremental cost cannot be necessarily variable, traceable, or cash costs. However , sunk cost can be cash costs, variable and traceable. b. Fixed cost versus Variable cost Fixed costs are costs that are independent of output. These remain constant throughout the relevant range and are usually considered sunk for the relevant range, which means fixed costs are not relevant to output decisions. Fixed costs often include rent...
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