The Sum of the Fixed and Variable Costs Are ______

question 7

Multiple Choice

The sum of the fixed and variable costs are ______.

• A)Marginal costs
• B)Total costs
• C)Average costs
• D)Both marginal costs and total costs
• E)Both total costs and average costs

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Definitions:

Advertising

The nonpersonal communication of information paid for by an identified sponsor, for example, an individual or an organization.

Electronic Collection

The process of collecting payments, debts, or other obligations electronically, via online transactions or electronic payment systems.

Business Cards

Small cards containing professional contact information that are exchanged in business contexts to facilitate networking and communication.

Cognitive Dissonance

The psychological discomfort experienced by an individual when holding two or more conflicting beliefs, values, or ideas, often leading to a change in attitude or behavior.