In the Equation ,2 Is The

question 41

Multiple Choice

In the equation ,2 is the:

• A)independent variable
• B)slope of the line
• C)dependent variable
• D)y-intercept

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Definitions:

Fixed Cost

Costs that do not vary with the level of output or production, such as rent or salaries.

Variable Cost

Costs that vary directly with the level of output or production volume, such as materials and labor expenses.

Average Variable Cost

The total variable costs incurred by a firm divided by the quantity of output produced.

Marginal Cost

The extra cost resulting from the manufacture of an additional unit of a product or service.