A Cost That Has Characteristics of Both a Variable Cost

question 186

Multiple Choice

A cost that has characteristics of both a variable cost and a fixed cost is called a

• A) variable/fixed cost
• B) mixed cost
• C) discretionary cost
• D) sunk cost

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Definitions:

Market for Gasoline

The supply and demand interaction for gasoline, determining its price in the market.

Equilibrium Price

Equilibrium price is the price at which the quantity of goods demanded by consumers matches the quantity of goods supplied by producers, resulting in a market balance where there is neither excess supply nor excess demand.

Chocolate Consumption

Refers to the amount and frequency at which chocolate is consumed by individuals or populations, indicating preferences and economic spending on confectionery.

Supply Change

adjustments in the supply level of a product or service in the market, which can be influenced by factors like production costs and changes in demand.