Some Costs Do Not Vary with the Quantity of Output

question 321

Multiple Choice

Some costs do not vary with the quantity of output produced. Those costs are called

• A)marginal costs.
• B)average costs.
• C)fixed costs.
• D)explicit costs.

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Definitions:

Relevant

Directly related to the matter at hand; bearing significance or importance to the issue or subject being considered.

Culture

The accumulated habits, beliefs, values, and knowledge that characterize a group of people or society, shaping their worldview and practices.

Pattern of Beliefs

A consistent and typical set of convictions or opinions that shape an individual’s or group's worldview and actions.

Automatically Transmitted

Pertains to the process where data or information is sent and received without the need for manual intervention.