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True or false 1. With variable costs, the cost per unit varies with changes in volume....

True or false

1. With variable costs, the cost per unit varies with changes in volume.

2. As volume increases, total fixed costs remain the same.

3. Contribution margin is total revenue less variable costs.

4. Sunk costs have already been incurred and cannot be changed by future actions.

5. An opportunity cost is a relevant cost when making a business decision.

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