Define the Following Terms: Elizabeth I

question 26

Short Answer

Define the following terms: Elizabeth I

---

Definitions:

Fixed Cost

Fixed costs are business expenses that remain constant regardless of the levels of production or sales, such as rent, salaries, or loan payments.

Variable Cost

Costs that vary directly with the level of production or output.

Continue to Operate

The decision by a company or business to keep running its operations despite various challenges.

Marginal Cost

The cost of producing one additional unit of a product or service, a critical factor in economic decision-making.