Which of the Following Is an Example of a Variable

question 98

Multiple Choice

Which of the following is an example of a variable cost?

• A) The cost of installing new software on all office computers
• B) The cost of the electricity used in an office
• C) The cost of purchasing land for a new office space
• D) The annual rent paid for an office space

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Definitions:

Cartel Members

Firms or countries that coordinate together to control prices and production in an industry, limiting competition.

Incentive to Cheat

Motivations or circumstances that encourage individuals or entities to break rules or agreements for personal gain.

Cartel Agreements

Formal agreements among competing firms in an industry to control prices, limit production, or divide markets, often illegal and against antitrust laws.

Oligopolies

Market forms in which a market or industry is dominated by a small number of sellers (oligopolists).