Question

. (a) Briefly explain the different types of cost​

Answer 1

Answer:

The two basic types of costs incurred by businesses are fixed and variable. Fixed costs do not vary with output, while variable costs do. Fixed costs are sometimes called overhead costs

Answer 2

Explanation:

The two basic types of costs incurred by businesses are fixed and variable. Fixed costs do not vary with output, while variable costs do. Fixed costs are sometimes called overhead costs. Variable costs, on the other hand, fluctuate in direct proportion to changes in output.

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