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1. What is relevant range? 2. Give two examples of costs that are variable costs and two examples of fixed costs.

1. What is relevant range?

2. Give two examples of costs that are variable costs and two examples of fixed costs.

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Answer #1

1. Relevant Range means a specific range has been in it's own boundaries of minimum and maximum. Within this boundary the cost or the revenue may occur to a firm. Assumptions made over cost or revenue may fall under the boundaries of the relevant range.

2. Direct labor, Utility Costs are two examples of Variable Costs. Depreciation and Amortization are two fixed costs.

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