Question Details

All cost functions are linear



1) All cost functions are linear. 


2) In a cost function y = 18,000, the slope coefficient is zero.


3) When estimating a cost function, cost behavior can be approximated by a linear cost function within the relevant range. 


4) y = a + bX, y = a, and y = bX are the three basic types of linear cost functions.


5) All other things being equal, the longer the time horizon the more likely a cost will be fixed.





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