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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define fixed costs and give one example.
💡 Hint: Think about costs that remain constant every month.
Question 2
Easy
What are variable costs? Provide one example.
💡 Hint: Consider costs that vary with how much you produce.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What type of cost remains unchanged in the short term?
- Variable Costs
- Fixed Costs
- Semi-variable Costs
💡 Hint: Think about costs that don't change with how much output you have.
Question 2
Do variable costs increase or decrease when production rises?
- Increase
- Decrease
💡 Hint: Consider what happens each time you make another unit.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company produces 1000 units at a total variable cost of ₹30,000 and has fixed costs of ₹20,000. If production increases to 1500 units, what will be the total cost?
💡 Hint: First, find the variable cost per unit, then apply it to the new production level.
Question 2
If a business has total costs of ₹50,000, consisting of fixed costs of ₹20,000 and variable costs, how would you calculate the variable costs given a production level of 400 units?
💡 Hint: Think about isolating variable costs from total costs.
Challenge and get performance evaluation