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Question(s) / Instruction(s):

In describing the cost formula equation Y = a + bX, which of the following statements is correct? 

a)            "X" is the dependent variable.

b)            As "X" increases "Y" decreases.

c)            "a" is the fixed component.

d)            In the high-low method, "b" equals change in activity divided by change in costs.

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