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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define fixed costs and give an example.
💡 Hint: Think about costs that remain constant over time.
Question 2
Easy
What is a marginal cost?
💡 Hint: Consider expenses for producing more output.
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
Which type of cost stays the same regardless of output level?
- Fixed
- Variable
- Marginal
💡 Hint: Think about how rent behaves.
Question 2
True or False: Marginal cost is the cost associated with producing one additional unit.
- True
- False
💡 Hint: Consider extra effort required when increasing units.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company incurs fixed costs of $3,000 monthly and has variable costs of $20 per unit. If they wish to break even while selling each unit for $50, how many units must they sell?
💡 Hint: Remember to set total revenue equal to total costs and solve for 'x'.
Question 2
If a software product's fixed costs are $5,000 and the marginal cost of each additional subscription sold is $10, how would the company determine its pricing to reach profitability?
💡 Hint: Consider the relationship between price, volume sold, and total costs.
Challenge and get performance evaluation