Explanation:
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Answer:
Explanation:
• Variable costs are costs that varies with activity level. It means that these costs changes as more and more goods and services are produced by a company. Total variable cost changes with change in output produced by a firm in the long run.
Examples of variable costs are costs of raw materials used in producing goods, direct labor costs, sales commission etc.
• Fixed costs are costs that does not vary with activity level. This means that these costs remains the same as more and more goods are produced by a company. The total fixed cost does not change with changes in output produced by a company in the short run.
Examples are rent payments, salaries, depreciation.
•Mixed costs are costs that have components of both fixed and. variable costs. The fixed part of mixed cost remains unchanged as activity level increases or decrease while the variable part changes with activity level. The fixed part of a total cost function of a mixed cost remains the same as activity level increases in the short run, while the variable part changes with output level in the long run.
Examples are utilities, insurance, operating license
•Step costs. These are costs that remains the same at an activity level but increases or decreases when the threshold of an activity is achieved.
Example is a factory production supervisor salary
Microeconomics is the area that is concerned with the ways to reduce the teenage smoking
Explanation:
The branch of economics that deals with the decision that the individual makes or the firms make is called as micro economics and it is usually determined by the human choices and the incentives
They are determined by the supply of goods the scarcity of the resources the money prices and the demand of the goods and the commodities the decisions that are made by the people in small scale is also called as micro economics
The operations manager at the montague convention and event center oversees the detailed work of a variety of functions at the facility, such as catering services, the audio-visual department, janitorial services, marketing and accounting. manufacturing service production operations
Judith is likely demonstrating the leadership style called affiliative.
This leadership style tends to focus more on the people as a way of
establishing or building relationships or to be able to communicate or
understand the people associated with the certain task or problem.
