The Cost of Using the Telephone,which Involves a Flat Rate

question 30

Multiple Choice

The cost of using the telephone,which involves a flat rate per month plus a fee for every local and long-distance call would be a ________ cost.

• A)step
• B)fixed
• C)variable
• D)mixed

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Definitions:

Large Profits

Significant earnings that exceed the costs and expenses of operating a business.

Innovation

The process of developing new products, services, or methods, often leading to increased efficiency or value.

Economic Profit

The difference between a firm's total revenue and total costs, including both explicit and implicit costs, measuring the firm's performance beyond the basic business costs.

Investment

The action of designating capital with the intention of securing an income or a financial return.