Activity Part A
Match the factors affecting cost to their definitions. Write the name of the factor next to its definition.
B I x
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E 3
Factor Affecting Cost
Definition
the value of all things needed to create the good or service
the value of a product given up to produce or obtain another product
costs that are not affected by the level of production
past costs that cannot be recovered
change in total cost that arises when the quantity produced changes by one unit
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