______________ Are Simple Rules That Reduce Mental Effort and Allow

question 79

Multiple Choice

______________ are simple rules that reduce mental effort and allow us to make decisions or judgments quickly.

• A) Facts
• B) Heuristics
• C) Thoughts
• D) Regulations

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Definitions:

Variable Cost

Costs that fluctuate with the level of output, such as materials and labor directly involved in production.

Cost Driver

An element that leads to a variation in the expense associated with an action.

Semivariable Cost

Costs that have both fixed and variable components, changing in response to activity level but not directly proportional to it.

Variable Costs

Costs that change in proportion to the level of goods or services produced, including costs for materials and labor directly involved in production.