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Macintosh Picture Format  |  1995-12-10  |  16.0 KB  |  362x283  |  8-bit (85 colors)  |  [PICT/BABL]
   ocr: Variable Costs 30000 25000 20000 15000 10000 5000 D 100 200 300 400 Volume/Activity (units) The graph demonstrates that the aggregate variable costs increase in direct proportion to changes in the level of production.