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One change theorist describes a five-step innovation and decision-making process theory. This theorist believed that change is always rejected initially and then adopted at a later time. He believes that change is reversible and rejection does not mean that it will always stay that way. He argues it can also work in reverse: change may be initially accepted and then rejected. Who is this theorist?
Fixed Cost
A cost that does not vary with the level of production or sales, such as rent, property taxes, and salaries.
Least-Squares Regression
A statistical technique used to determine the line that best fits a set of data points, minimizing the sum of the squares of the differences between the observed and estimated values.
Variable Cost
Expenses that change in direct proportion to the amount of production or the quantity of output generated.
Fixed Cost
Costs that remain constant in total despite changes in the levels of production or output within a certain range.
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