On average a medical practice uses three rolls of gauze for each patient. The practice has negotiated a contract with the gauze manufacturer in which the price of gauze is set over the next 5 years. In this example the cost of gauze is considered: Select one: a. Variable b. Fixed c. Semi-variable d. Step function
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- Variable costs change directly in proportion to the level of production or the number of services provided. - Fixed costs remain constant regardless of the level of production or services provided. - Semi-variable costs contain both fixed and variable Show more…
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