Asked by Kimmy Mendivel on Jul 14, 2024
Verified
Define fixed costs.
Fixed Costs
Expenses that do not change with the level of output or sales, such as rent, salaries, and insurance premiums.
- Acquire knowledge on the theories surrounding fixed and variable costs.
Verified Answer
KL
Katie LernerJul 16, 2024
Final Answer :
Fixed costs are those that continue even if no units are produced.
Learning Objectives
- Acquire knowledge on the theories surrounding fixed and variable costs.