For short-run decisions, which costs can normally be deemed to be irrelevant?

Name: For short-run decisions, which costs can normally be deemed to be irrelevant?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Fixed costs are constant regardless of the level of production or the decision being made, therefore they are irrelevant for short-run decisions. Relevant costs are those that will change depending on the decision, and variable costs and total costs may be relevant depending on the situation.

For Short-Run Decisions, Which Costs Can Normally Be Deemed to Be