Some Costs Have Both a Fixed and a Variable Component

question 56

Multiple Choice

Some costs have both a fixed and a variable component.These costs are referred to as

• A)discretionary costs.
• B)committed costs.
• C)mixed costs.
• D)step costs.

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Definitions:

Composite Score

An overall score derived from combining several individual scores, often used in assessments or evaluations.

Public Transit

A system of various transport modes such as buses and trains operated by a city or region to provide a shared travel service to the public.

Labour Cost

The total amount of money that businesses have to pay to their employees, encompassing wages, benefits, and taxes.

Sensitivity

The degree to which the output of a model or system reacts to changes in input parameters or assumptions.