Asked by
Caroline Campbell
on Nov 17, 2024
Verified
Which of the following graphs in Figure 1 illustrates the behavior of a total fixed cost?
A) Graph 2
B) Graph 3
C) Graph 4
D) Graph 1
Total Fixed Cost
The sum of all costs that do not change with the level of output or sales in the short term, such as rent and salaries.
- Understand the graphical representation of various cost behaviors such as fixed, variable, and mixed costs.
Verified Answer
EB
Learning Objectives
- Understand the graphical representation of various cost behaviors such as fixed, variable, and mixed costs.
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