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Other things being equal, the demand for a product is less elastic if
Fixed Cost
Expenses that do not change with the level of production or sales over the short term, such as rent, salaries, and insurance.
Period Cost
An expense that is not directly tied to the production process but rather incurred over a specific time period.
High-low Method
A technique used in accounting and finance to estimate variable and fixed costs based on the highest and lowest levels of activity.
Total Fixed Costs
The sum of all costs that do not change with the level of production or sales, over a specified period of time.
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