Define Variable Cost, Fixed Cost, and Mixed Cost

question 85

Essay

Define variable cost, fixed cost, and mixed cost.

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Definitions:

Periodic Variable

A variable that changes at regular intervals over time, often used in the analysis of time series data.

Measured

Evaluated or quantified in terms of extent, dimensions, quantity, or capacity.

Flow Variable

A variable that is measured over a specific period of time, such as income or expenditure, which may change from one period to the next.

Federal Government

The national government of a federal state, which holds the authority to govern on matters that affect the entire country, differentiated from state or local governments.