Cost of a Product

Costs that do not change with change in production are called

• Variable Costs

• Fixed costs

• Opportunity cost

• Sunk Cost

Property taxes are a type of

• Fixed Cost

• Opportunity cost

• Sunk Cost

• Variable Cost

Costs that change with the change in production levels are called

• Fixed cost

• Variable cost

• Opportunity Cost

• Sunk Cost

Wages that are paid to the labour are a type of

• Fixed cost

• Variable cost

• Opportunity Cost

• Sunk Cost

New Machines if bought for production is a type of

• Fixed cost

• Variable cost

• Opportunity cost

• Sunk Cost

Potential Benefits that an individual could earn are called

• Opportunity Costs

• Fixed Costs

• Variable Costs

• Sunk Costs

If I am giving up on a job to work on my business, I am incurring

• Sunk Costs

• Fixed Costs

• Opportunity costs

• Variable Costs

Costs that cannot be recovered are called

• Sunk Costs

• Opportunity costs

• Fixed costs

• Variable Costs

If I lose $3000 in an investment I made that failed. I incurred

• Opportunity costs

• Fixed Costs

• Sunk Costs

• Variable Costs