Fixed Costs Are a Function of ____, and Variable Costs

question 157

Multiple Choice

Fixed costs are a function of ____, and variable costs are a function of ____.

• A) productivity; economy
• B) economy; time
• C) management; time
• D) management; productivity
• E) time; volume

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Definitions:

Self-interest

Acting based on one’s own benefit or advantage, often disregarding others.

Utilitarian Theory

A normative ethical theory that proposes actions are right if they benefit the majority, aiming to maximize happiness and reduce suffering.

Equally

Pertaining to being the same in quantity, size, degree, or value, or treating all parties in a situation or context without partiality or discrimination.

Utilitarians

Advocates of utilitarianism, a theory in ethics which states that the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.