Variable costs (vc), Managerial Economics

Variable Costs (VC)

These are costs, which vary with the level of production.  The higher the level of production, the higher will be the variable costs.  They are associated with variable factors of production in the Short Run.  Examples are costs of materials, cost of  fuels, labour costs and selling costs.

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Posted Date: 11/27/2012 7:28:26 AM | Location : United States

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