Examlex
Which of the following statements is true ?
Fixed Costs
Costs that do not change with the level of output produced, such as rent, salaries, and loan payments.
Long Run
A period of time sufficiently long that all inputs or factors of production can be varied by firms, allowing them to fully adjust to market conditions.
Variable Costs
Expenses that vary directly with the amount of production or business activity.
Fixed Costs
Costs that do not change with the level of output or production, such as rent or salaries.
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