Which of the Following Is a Characteristic of a Variable

question 101

Multiple Choice

Which of the following is a characteristic of a variable cost?

• A)Variable costs are fixed in total.
• B)Variable costs fluctuate in total with production and sales.
• C)Variable costs do not change in total over any range.
• D)All of the above may be characteristic of a variable cost.

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Definitions:

Indifference Map

A set of indifference curves, each representing a different level of utility, that together show the preferences of a consumer.

Budget Constraint

outlines the combination of goods and services that a consumer can purchase given their income and the prices of those goods and services.

Demand Curve

A graphic representation showing the relationship between the price of a good or service and the quantity demanded by consumers for a given period.

Sweaters

Clothing items made from wool or other yarn, designed to cover the upper body and provide warmth.