Whether a Cost Is Fixed or Variable Depends on the Time

question 29

Multiple Choice

Whether a cost is fixed or variable depends on the time horizon. In the long run, all costs are

• A)fixed.
• B)variable.
• C)mixed.
• D)step.

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Definitions:

Percent

A means of expressing a number as a fraction of 100.

Richest 1 Percent

The segment of the population that holds a disproportionally large share of a country's wealth, often used in discussions on inequality.

World Population

The total number of humans currently living on Earth, often estimated and analyzed for trends in growth, distribution, and demographic changes.

Earnings

Earnings represent the amount of money that an individual or company receives in return for labor, services, or investment, often measured over a specific period.