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Which of the following enabled city dwellers of the late nineteenth and early twentieth centuries to live in greater comfort and safety?
Fixed Costs
Costs that do not vary with the level of output produced by a firm, such as rent, salaries, and insurance premiums.
Profit
The financial gain obtained when the revenue from a business activity exceeds the expenses, costs, and taxes.
Variable Costs
Costs that change in proportion to the level of production or business activity, such as raw materials and direct labor.
Fixed Costs
Expenses that do not change with the level of goods or services produced by a business, such as rent, salaries, and insurance.
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