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How does firm distinguish between fixed and variable costs

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Question - How does a firm operating in the aviation industry might address the requirements below:

How does the firm distinguish between fixed and variable costs. Provide specific examples. In addition, explain whether fixed cost items or variable cost items get any priority in the firm's internal decisions to distribute available funds.

Please explain in 5 paragraphs, correct spelling and grammar required.

Reference no: EM131747697

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