Question

What is fixed and variable cost?

Answer 1

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$\mathfrak{\blue{Q.}}$What is fixed and variable cost?

$\mathfrak{\blue{Ans.}}$

$\mathfrak{i.)Fixed\:cost\::}$ Fixed costs are the costs that do not change with the level of output.

$\mathfrak{ii.) Variable\:cost\::}$ Variable costs are the costs that varydirectly with the level of output.

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Answer 2

Hey mate ^_^

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Answer:
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________
Fixed cost:
________

=> Incurred on hiring fixed factors of production.

=> Remain constant irrespective of the units of output produced.

__________
Variable cost:
__________

=> Incurred on hiring variable factors of production.

=> Vary directly as per the variation in the output level. If higher units of output, then higher variable costs are incurred and vice-versa.

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