Question

Luis created a spreadsheet of his expenses for three months. Which of Luis's expenses are variable expenses?

Answer 1

As they vary from month to month, Luis's variable expenses are the utility bill, groceries, clothing and fuel.

Variable expenses is a concept in economics. They are costs that change due to an increase or decrease in the production volume, such as raw material costs.

The variable cost in money is obtained by multiplying, starting from a certain cost, the variable cost in kind by the price of the variable factor. The curves of average variable cost and marginal variable cost are deduced from the curve of variable cost in money according to geometric relationships.

Therefore, as they vary from month to month, Luis's variable expenses are the utility bill, groceries, clothing and fuel.

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