The costs incurred by a firm in its use of variable factors of production are:
A) total costs.
B) marginal costs.
C) variable costs.
D) fixed costs.

Name: The costs incurred by a firm in its use of variable factors of production are: A) total costs. B) marginal costs. C) variable costs. D) fixed costs.
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Question

Quizplus · Accepted Answer

Variable factors of production are the inputs whose quantity can be adjusted easily in the short run. The costs incurred by a firm in its use of variable factors of production are called variable costs.

The Costs Incurred by a Firm in Its Use of Variable