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The table below shows the approximate value of Canada's crude oil and natural gas exports over a 5-year period.The amounts shown are billions of dollars. TABLE 2-7 Refer to Table 2-7.Assume that 2013 is the base year,with an index number = 100.What is the percentage change in the value of exports of natural gas from 2016 to 2017?
Activity Bases
Criteria or units of measure used to allocate costs in activity-based costing, reflecting the extent to which cost drivers are used or consumed.
Total Variable Cost
The sum of all costs that vary directly with the level of production or output.
Fixed Cost Per Unit
The total fixed costs of production divided by the number of units produced, decreasing as production volume increases.
Relevant Range
The level of activity within which the assumptions about fixed and variable costs in cost-volume-profit analysis remain valid.
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