Asked by
Louis-Victor Marcoux
on Nov 07, 2024
Verified
Costs that change in direct relation to the number of units produced are called _____ costs.
A) Total
B) Incremental
C) Fixed
D) Marginal
E) Variable
Marginal Costs
The added cost of producing one additional unit of production.
Units Produced
The total number of units of product that a company manufactures over a specified period.
Costs
An economic metric that considers the total expenditure of resources, including money, time, and labor, to achieve a particular goal or produce a good or service.
- Attain a clear understanding of the concept and effects of fixed and variable costs in the functioning of businesses.
Verified Answer
KM
Learning Objectives
- Attain a clear understanding of the concept and effects of fixed and variable costs in the functioning of businesses.