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Many amateur astronomers have telescopes with mirrors 20 cm (1/5 m) in diameter. In comparison, one of the largest astronomical telescopes in the world is the Keck telescope, with a diameter of 10 m. How much greater is the light-gathering power of the Keck telescope than the power of a 20-cm telescope?
Variable Costs
Expenses that vary directly with the amount of production or business operations.
Fixed Costs
Expenses that do not change in total amount with changes in the level of business activity or production volumes, such as rent, salaries, and insurance.
Unit Variable Cost
The cost associated with producing one unit of output, including labor, materials, and overhead, that varies directly with the level of production.
Fixed Manufacturing Costs
Costs that do not vary with the level of production output, such as rent, salaries, and insurance.
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