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QUESTION
Describe the difference between a variable cost and step- variable cost. When is it reasonable to treat step-variable costs as if they were variable
- Describe the difference between a variable cost and step- variable cost. When is it reasonable to treat step-variable costs as if they were variable cost?
- What are the advantages of the scatter plot method over the high-low method? The high-low method over the scatter plot method?
- What is meant by the best-fitting line? Is the best fitting line necessarily a good -fitting line? Explain.
