Variable cost refers to the costs of production that fluctuate depending on the number of units produced.
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Explanation:</u></h3>
The cost of any product that changes based on the quantity of goods that are produced. The volume that is produced decides the fluctuations in the variable cost. Fixed cost is the cost that will not change based on the number of units of the goods that is produced. Rent of a building can be considered as a fixed cost.
Example for variable cost may be raw materials cost, packaging cost,etc. Variable cost can be calculated by adding up the cost of labor and raw materials that are used in the production of one unit of a good. The total variable cost can be calculated by multiplying variable cost per unit with the number of units produced.
Answer: D. Matching principle
Explanation:
The matching principle simply states that organizations or businesses should recognize both the revenues that the company makes and their related expenses that are incurred by the company in same accounting period.
The main idea behind the matching concept is so that earnings that are made by a business will not be misstated.
Answer:
Perfectly Inelastic
Explanation:
Demand can be defined as the total quantity of a commodity which a consumer is willing and able to buy at a particular time and price.
There are several types of elasticity of demand a perfectly elastic demand is one that quantity remains the same regardless of a change in price
Answer:
C) starting a snow cone business
Explanation:
An entrepreneur is someone who decides to start his own business, usually a small business. Only option C refers to starting a new business.
Option A and B refer to positions where you are employed by the government (being a government employee is the opposite of being an entrepreneur).
Option D refers to painting your kitchen not opening a new business.
