Examlex
Which of the following is correct?
i.A surplus puts downward pressure on the price of a good.
ii.A shortage puts upward pressure on the price of a good.
iii.There is no surplus or shortage at equilibrium.
Break-Even Sales
The amount of revenue required to cover both the fixed and variable costs of production.
Actual Sales
The exact amount of sales revenue that a company has generated over a specific period, as opposed to projected or forecasted sales.
High-Low Method
A technique used in cost accounting to estimate fixed and variable costs based on the highest and lowest levels of activity.
Mixed Cost
Mixed cost refers to a cost that contains both variable and fixed cost elements, meaning it changes with the level of activity but not directly proportionate.
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