Fixed Variable and Marginal Costs Assessment
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Fixed Variable and Marginal Costs Assessment

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    Karam A.
    PL
    Karam A.

    here i would like to prefer what is the difference between Fixed, Variable and Marginal Cost.? Fixed Cost is the upfront cost a business must front to create an infrastructure. Fixed costs includes things like plant, property and equipment. So all costs needed to begin production of a product are fixed costs. Variable cost refers to cost that may fluctuate during production. The two primary inputs here are labor and raw materials. During production the costs of these inputs may change as the labor and raw materials markets change. Marginal cost is the cost of producing one additional output of production. So If I have produced 13 cars already, the marginal cost of the 14th car is only the additional costs the firm incurs in making that car

    David P.
    US
    David P.

    Insightful

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