The sum of the firm's expenses that change with the quantity of the product that is produced and sold is referred to as

A) fixed cost.
B) total cost.
C) marginal cost.
D) unit cost.
E) variable cost.

Question

The sum of the firm's expenses that change with the quantity of the product that is produced and sold is referred to asA)  fixed cost.B)  total cost.C)  marginal cost.D)  unit cost.E)  variable cost.

Priyanshi Parmar · Accepted Answer

Final Answer : E, Explanation :  Variable costs are expenses that vary directly with the level of production or sales volume.

The sum of the firm's expenses that change with the quantity of the product that is produced and sold is referred to as

A) fixed cost.
B) total cost.
C) marginal cost.
D) unit cost.
E) variable cost.

Definitions

Learning Objectives

Learning Objectives

Related questions