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Within relevant range, cost function which cost does not change in narrow ranges of activity is called
- Afixed cost function
- Bvariable cost function
- Cstep variable cost function
- Dstep fixed cost function
Correct answer: C
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CCommunity
step variable cost function
Within relevant range, cost function which cost does not change in narrow ranges of activity is called step variable cost function. A step variable cost is a cost that generally varies with the level of activity, but which tends to be incurred at certain discrete points and to involve large changes in amounts when such a point is reached.
Within relevant range, cost function which cost does not change in narrow ranges of activity is called step variable cost function. A step variable cost is a cost that generally varies with the level of activity, but which tends to be incurred at certain discrete points and to involve large changes in amounts when such a point is reached.