In Terms of Cost Behavior,telephone Expenses Are Often Classified as

question 19

Multiple Choice

In terms of cost behavior,telephone expenses are often classified as

• A)sunk costs.
• B)variable costs.
• C)fixed costs.
• D)mixed costs.

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Definitions:

Contestable Market

A market with free entry and exit, where a company's prices and outputs are constrained by the threat of competition from potential entrants.

Economic Profit

The offset between total financial inflow and all encompassing outgoings, covering both specified and unspecified expenses.

Entry And Exit

Refers to the capability of businesses to freely enter into or exit from markets based on regulatory, economic, and market conditions, impacting competition and market dynamics.

Competitive Price-searcher

A market condition where businesses set their prices based on the competition, constantly seeking to offer the best value to attract customers.