In economics,the term "fixed costs" means
A)implicit costs.
B)opportunity costs.
C)costs that are never accounted for.
D)costs incurred in the past that involve no implicit costs.
E)costs that do not vary with the level of output produced.

Question

Quizplus · Accepted Answer

Fixed costs are costs that do not vary with the level of output produced. Examples of fixed costs include rent, salaries, and insurance premiums.

In Economics,the Term "Fixed Costs" Means