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InterviewSolution
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Explain The Meaning Of Variable Costs? |
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Answer» Variable costs tend to vary with the VOLUME of output. Any INCREASE in the volume of production result in an increase in the variable cost and vice-versa. For EXAMPLE, cost of material; cost of labor, etc. Variable costs tend to vary with the volume of output. Any increase in the volume of production result in an increase in the variable cost and vice-versa. For example, cost of material; cost of labor, etc. |
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