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Chapter 3 Cost Behaviour - Coggle Diagram
Chapter 3 Cost Behaviour
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Step Costs
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Example:
Rent is a step cost in situations where accommodation
requirements increase as output levels get higher
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Fixed Costs
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known as period charge, relate to a span of time – time
span increases, fixed cost increases too
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Semi-Variable Costs
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Contains both fixed and variable components, partly
affected by changes in the level of activity
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