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Explain Variable costs.
Variable costs conversely, tend to vary directly along with the volume of output. Illustrations of variable cost are: -
* Direct production labour cost
* Direct Materials cost
* Direct Expenses.
Plans are being made to produce a product that requires 40 minutes on Resource X and 30 minutes on resource Y. Assume that there is only one of each of these resources, and that ma
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Why should one study operations management?
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