Relevant costs can include: 1. Fixed, variable and sunk costs 2. Fixed and variable costs 3. Only fixed costs 4. Only variable costs QUESTION 6 In the long run a business must: Charge a price that covers Charge a price that Charge a price that cover all Charge a price that leads to 1. its variable costs only 2. covers its fixed costs only. 3. costs both fixed and variable 4. a positive contribution QUESTION 7 If a particular material is required but none are available in time, the cost that should be considered in the pricing of a contract that includes the material is: Market price of The purchase price of The opportunity cost from switching the The market price that the 1. the material. 2. the materials. 3. material from existing contracts. 4. material could be sold for