In the formula, Total cost = Fixed cost + (Variable rate x Output), total cost refers to the
A) slope parameter or b
B) intercept parameter or a
C) dependent variable
D) independent variable

Question

Quizplus · Accepted Answer

In this formula, total cost is the dependent variable, as it is calculated based on the fixed cost and variable rate multiplied by the output. The fixed cost and variable rate are the independent variables. Therefore, choice C is the correct answer.

In the Formula, Total Cost = Fixed Cost + (Variable