Select the appropriate definition for each of the items listed below.
-A cost that increases in total as output increases
A)period cost
B)direct cost
C)opportunity cost
D)variable cost
E)indirect cost
F)fixed cost
G)product cost

Question

Quizplus · Accepted Answer

Variable costs are those that vary directly with the level of output. As production or output increases, variable costs increase; as production decreases, variable costs decrease.

Select the Appropriate Definition for Each of the Items Listed