Variable cost and fixed cost and breakeven point

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1. Should contracts be put in writing, even when it is not required by law to do so? Explain why you feel the way that you do. Further, if you do believe that most contracts should be written, explain why you think that an oral contract is legally enforceable in so many situations.

2. Define the following terms used to determine marketing finances: 1. Variable Cost 2. Fixed Cost 3. Breakeven point 4. Elasticity of demand 5. Markup.

Reference no: EM131806095

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