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2. A cost that change with the level of output

  • Variable Costs
  • Overheads
  • Expenditure
  • Fixed Costs

3. Definition of want

  • Something that you is essential
  • Something that is desired
  • Something that you need

4. Which one of these is an example of a fixed ost

  • Rent
  • electricity
  • Raw materials

5. What is break even

  • when total revenue is equal to total costs
  • when total revenue is higher than total costs
  • when total costs are higher than total total revenue
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