Examlex
Which of the following statements is false?
Total Variable Costs
Expenses that change in proportion to the activity of a business such as materials, labor, and utilities, which vary with the level of output.
Average Fixed Cost
Production's fixed expenses (unchanged by the amount of production) split by the quantity of product made.
Average Variable Cost
The cost that varies with the level of output, computed by dividing total variable costs by the quantity of output produced.
Total Cost
A comprehensive total of expenses involved in the creation of goods or services, covering both fixed and variable costs.
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