CBSE Class 12-commerce Answered
What are the difference between the fixed costs and the
variable costs?
Asked by Topperlearning User | 25 Apr, 2016, 01:04: PM
Expert Answer
Fixed costs: Fixed costs do not change with change in quantity of output. It remains the same whether output is zero or maximum. For example, cost of machineries, rent and licence fee.
Variable costs: It changes with change in quantity of output. Its cost is zero when output is zero. For example, cost of raw materials and expenses on electricity.
Answered by | 25 Apr, 2016, 03:04: PM
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