Why is it important to distinguish between fixed

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Question 1-Why is it important to distinguish between fixed and variable costs?

Question 2-You spent $500,000 on coding training last year. Is this a sunk cost? Should it be considered in making a decision whether to switch coding software?

Question 3-A patient visits a clinic. She incurs $10 in travel costs and has a copayment of $20. The clinic's total charge is $60. The clinic
spends $9 to bill the insurance company for the visit and uses resources worth $51 to produce the visit. The insurance company pays the clinic $40 and spends $11 to process the claim. Describe the cost of the visit from the perspective of the patient, the clinic, the insurer, and society.

Reference no: EM133401599

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