What Is the Term for a Cost That Changes with the Level

question 155

Multiple Choice

What is the term for a cost that changes with the level of output?

• A)liquidity
• B)variable
• C)fixed
• D)asset

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Definitions:

Total Cost

The complete expenditure incurred in the production, operation, or provision of goods or services, including both fixed and variable costs.

Software Package

A bundle of software applications or programs typically designed to perform a specific group of tasks or functions and sold as a single product.

Cost Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's unit cost.

Monopolist

An entity that has exclusive control over the supply of a particular product or service, and thus the power to influence the market price.