Define the Following Terms: Louis IX

question 54

Short Answer

Define the following terms: Louis IX

---

Definitions:

Average Fixed Costs

The total fixed costs of production divided by the quantity of output produced, which decreases as production increases.

Total Fixed Costs

Expenses that do not change in proportion to the activity of a business, such as rent, salaries, or insurance premiums.

Silk Flower Arrangements

Artificial flower displays made from silk and other materials, designed to replicate the appearance of natural flowers.

Fixed Cost

A cost that does not change with an increase or decrease in the amount of goods or services produced or sold.