Variable cost refers to
A. the average amount of money received for selling one unit of a product or simply the price of that unit.
B. the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold.
C. the change in total cost that results from producing and marketing one additional unit of a product.
D. the total expense incurred by a firm in producing and marketing a product, which equals the sum of fixed cost and marginal cost.
E. the sum of the expenses of the firm that change with the quantity of a product that is produced and sold.
Answer: E
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Open-ended is a popular form of structured question
Indicate whether the statement is true or false
The business practice of sending jobs to other countries is referred to as
A. nearshoring. B. offshoring. C. outsourcing. D. employee leasing.
In the context of marketing a product, which of the following statements is true of underpromising?
A. Customers will forgive the mistakes made by marketers. B. Customers will be disappointed if the product falls short of high expectations. C. Products will gain steady exposure through positive "word-of-mouth." D. Products will have only a tiny base of highly satisfied customers.
A moderator's guide should include follow-up questions to help the moderator elicit more information.
Answer the following statement true (T) or false (F)