A Mathematical Description of How a Cost Changes with Changes

question 20

Multiple Choice

A mathematical description of how a cost changes with changes in the level of an activity relating to that cost is a ________.

• A)cost function
• B)mixed cost
• C)semivariable cost
• D)nonlinear cost function
• E)step cost function

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Definitions:

Discretionary

Pertaining to the freedom or authority granted to make decisions or judgments without being strictly bound by set rules or protocols.

Corporate Social Responsibility

A business model that helps a company to be socially accountable—to itself, its stakeholders, and the public—by practicing ethical and sustainable business practices.

Sustainable Development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs, typically focusing on balancing environmental, economic, and social welfare considerations.

Stakeholders

Individuals or groups that have an interest or stake in the outcomes of a project, decision, or organization.