Which of the following terms describes a cost that changes with the level of output?Fixed CostVariable CostSunk CostOpportunity Cost

What type of cost does not change with the level of output in the short run?Average costVariable costFixed costMarginal cost

Which of the following best describes a fixed cost? A cost which:Represents a fixed proportion of total costsRemains at the same level up to a particular level of outputHas a direct relationship with output.Remains at the same level when output increases.

As output increases, fixed cost per unit:Group of answer choicesremains constant.increases.equals to fixed costs.decreases.

45.A change in total cost caused by adding one more unit to the production total is called:  A. Fixed cost.  B. Variable cost.  C. Marginal cost  D. Total cost

28.Average fixed cost:  A. Increases as output increases  B. Remains the same whatever the level of output  C. Diminishes as output increases  D. Diminishes as output diminishes