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Exploring Fixed, Variable, and Marginal Costs in Economics

Exploring Fixed, Variable, and Marginal Costs in Economics

Assessment

Interactive Video

Mathematics

1st - 5th Grade

Practice Problem

Medium

CCSS
HSF-LE.A.1B

Standards-aligned

Created by

Mia Campbell

Used 1+ times

FREE Resource

Standards-aligned

CCSS.HSF-LE.A.1B

9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of business does Joe operate?

Web design

Retail

Restaurant

Consulting

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of a fixed cost in Joe's business?

Overtime pay

Office rent

Electricity bill

None of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What remains constant regardless of business activity?

Overtime payments

Fixed salaries

Utilities

None of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which cost varies with the number of orders in Joe's business?

Utilities

Salaries

Software licenses

Rent

Tags

CCSS.HSF-LE.A.1B

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What would be considered a variable cost in Joe's business?

Employee salaries

Office rent

Electricity usage

Software licenses

Tags

CCSS.HSF-LE.A.1B

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What would happen to employee costs if Joe paid per hour?

They would be variable

They would double

They would be fixed

They would disappear

Tags

CCSS.HSF-LE.A.1B

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the marginal cost primarily affected by during a busy month?

Fixed salaries

Software fees

Overtime pay

Rent costs

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