In the analysis of economic cost and revenue curves, which statement best describes variable costs?
A) They remain stable at any production level within a certain range.
B) They can be calculated by dividing the total of fixed costs by the number of units produced.
C) They change with the level of production.
D) They represent the change in total cost that results from producing one more unit of production.

Question

Quizplus · Accepted Answer

Variable costs change with the level of production, meaning they increase as production increases and decrease as production decreases.

In the Analysis of Economic Cost and Revenue Curves, Which