How are fixed costs different from variable costs?
Responses
Fixed costs only exist in command economies; variable costs only exist in market economies.
Fixed costs only exist in command economies; variable costs only exist in market economies.
Fixed costs are costs associated with capital, such as machinery; variable costs are the cost of labor.
Fixed costs are costs associated with capital, such as machinery; variable costs are the cost of labor.
Fixed costs do not change no matter how much a business produces; variable costs do change.
Fixed costs do not change no matter how much a business produces; variable costs do change.
Fixed costs are the same for all businesses; variable costs apply to individual businesses alone.