Costs That Are Fixed Over Some Ranges of Output and Variable

question 5

Multiple Choice

Costs that are fixed over some ranges of output and variable over others are called:

• A) opportunity costs
• B) semi-variable costs
• C) fixed costs
• D) variable costs
• E) implicit costs

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Definitions:

Human Resource Management

The strategic approach to managing people in an organization in a way that maximizes their contribution to the achievement of the organization's objectives.

Labor Unions

Organizations formed by workers from related sectors to work towards their mutual interests.

Healthy Working Relationship

A positive and productive interaction between employers and employees characterized by mutual respect, good communication, and a collaborative approach to solving workplace issues.

Human Resources School

A perspective in industrial relations that emphasizes the management of human resources to achieve organizational efficiency and employee satisfaction.