Select the Appropriate Classification of Each of the Costs Listed

question 166

Multiple Choice

Select the appropriate classification of each of the costs listed below.Each classification may be used more than once, and it is possible that one or more of the classifications may not be used at all.
-Real estate taxes

• A)Variable cost
• B)Fixed cost

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Definitions:

Decrease In Supply

A situation where the quantity of a good or service available for sale becomes less than before, often due to factors like increased production costs, natural disasters, or reduced resources.

Equilibrium Level

The state in a market where supply equals demand, and there are no external forces causing disruption, leading to a stable price.

Unconscionable Rate

A term often used to describe exorbitantly high rates or charges that go beyond what is reasonable or legally permissible, typically in the context of loans or credit.

Exorbitant Rate

An excessively high and unreasonable rate, often used in reference to interest rates or prices.