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Jake is a waiter at the local diner.He dislikes waiting on teenagers because he believes they are bad tippers.He prefers to spend his time and energy on ensuring that his older (and, he believes, better tipping) customers get great service, often at the expense of his teenaged customers.As a result, the teens that Jake serves tip him poorly.This is an example of _____________.
Fixed Cost
Costs that do not vary with the level of production or sales, such as rent, salaries, or property taxes.
Insurance Premiums
Payments given to an insurer for the purpose of securing protection against monetary losses from certain risks.
Variable Cost
Expenditures that adjust based on the volume of output or services provided by a business.
Hourly Wages
The amount of money paid to an employee for each hour of work performed.
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