How are fixed costs different from variable costs?
Fixed costs are costs associated wit...
How are fixed costs different from variable costs?
Fixed costs are costs associated with capital, such as machinery; variable costs are the cost of labor.
Fixed costs do not change no matter how much a business produces; variable costs do change.
Fixed costs only exist in command economies; variable costs only exist in market economies.
Fixed costs are the same for all businesses; variable costs apply to individual businesses alone.
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