Variable Costs Are

question 22

Multiple Choice

Variable costs are

• A) a production expense that does not vary with output.
• B) a production expense that changes with the quantity of output produced.
• C) equal to total cost divided by the units of output produced.
• D) the amount by which a firm's cost changes if the firm produces one more unit of output.

---

Definitions:

Congruence

The state of agreeing, being in harmony, or matching precisely.

Self-efficacy

A person's confidence in their ability to accomplish tasks and achieve objectives.

Self-actualization

Realizing one's inherent abilities and opportunities, seen as a vital aspiration or prerequisite in every individual.

High Extraversion

A personality trait characterized by high levels of energy, sociability, talkativeness, assertiveness, and a tendency to seek stimulation and enjoy the company of others.