Four Cost Concepts Are Important in Pricing Decisions: Total Cost

question 148

Multiple Choice

Four cost concepts are important in pricing decisions: total cost, fixed cost, variable cost, and __________ cost.

• A)dividends
• B)liquidity
• C)discretionary
• D)unit variable
• E)marginal

---

Definitions:

Negative Freedom

The concept of freedom defined as the absence of coercion or constraint on an individual's actions from external sources.

Government Agencies

Entities established by a government to carry out specific functions or services according to legal mandates.

Rational Freedom

The ability to make choices based on reason rather than coercion or instinct.

Determinists

Individuals or theorists who believe that all events, including moral choices, are determined completely by previously existing causes.