Variable Costs Are the Costs of ________

question 149

Multiple Choice

Variable costs are the costs of ________.

• A) raw materials and labor
• B) the last unit of production
• C) rent and equipment
• D) all expenses incurred by the firm

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Definitions:

Learning

The process of acquiring knowledge or skills through study, experience, or teaching, which can result in a change in behavior or understanding.

Reactiveness

The trait of responding to situations or stimuli rather than initiating or controlling them.

Activeness

A quality of being active, showing initiative, or willingly engaging in activities.

Flexibility

Ability to tolerate a mismatch (discorrespondence) between needs and rewards.