Variable costs are those that vary directly with the rate of output e.g., labour costs, fuel and power etc., These are also known as:

Related MCQs

• If the average total cost is Rs.54, total fixed cost is Rs.45000 and quantity produced is 2500 units, find the average variable costs (in Rs.) of the firm -
• If the fixed costs of a factory producing candles is Rs 20,000, selling price is Rs 30 per dozen candles and variable cost is Rs 1.5 per candle, what is the break-even quantity?
• Which of the changes below is most likely to lead directly to an increase in the income growth rate?
• A loan bearing either no rate of interest or an interest rate which is below the true cost of capital lent is known as:
• In 1971, United Nations Conference on Trade and Development (UNCTAD) drew up a list of 24 countries having a GDP of 100 or less literacy rate of 20% or less and a share of manufacturing of 10% or less of GDP. These countries were referred to as:
• The allocation of labour such that each worker specializes in one or a few functions in the production process is known as:
• Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country?
• Under flexible exchange rate system, the exchange rate is determined by -
• Bank rate is the rate of interest -
• Bank rate is that rate on which -