In economics,the term "fixed costs" means
A)implicit costs.
B)costs incurred in the past that involve no implicit costs.
C)costs that are never accounted for.
D)costs that do not vary with the level of output produced.
E)opportunity costs.

Question

Quizplus · Accepted Answer

Fixed costs are costs that do not vary with the level of output produced. They are expenses that must be paid regardless of the amount of production. Examples of fixed costs include rent, salaries, and insurance.

In Economics,the Term "Fixed Costs" Means