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Fixed costs: a cost that is not effected by the output and will always remain the same (may change with time). Example: rent.

Variable costs:

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Fixed Cost: a cost that doesn't change and remains constant for example rent

Variable Cost: Cost changes depending on the

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Fixed cost

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EXVIF

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Fixed costs - a cost that doesn't change regardless of the output

Variable cost- a cost that changes depending on the output

Profit- the financial gain a firm gets after all the expenses are paid

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Fixed costs are costs that are not changed or affected by the amount of output

Variable costs are costs that are changed or affected by the output

Profit- profit is the amount of money your firm or business gains

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Fixed cost

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Fixed cost: costs that remain the same no matter how much is produced or what is the output. For example: rent, salary, interest
Variable Cost: costs that change depending on the output. For example: electricity; so the more you use the electricity the higher the bill.
Profit: the gain a company gets on the product sold

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• A fixed cost is a cost that does not change no matter the amount of goods or services produced or sold.
• A variable cost is one of the other components of the total cost of running a business. It changes depending on the output.

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Fixed cost remains the same regardless of the output in the short run and example of fixed cost would be a rent of a place whereas variable cost is the costs that change depending on the output.
Profit is the amount your firm gains excluding all the expenses paid for producing the product

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Fixed Cost- a cost which is the same regardless the output produced, e.g. Rent or Salary.
Variable Cost- A Cost that changes depending on the output produced.

Profit- The

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Variable costs are costs that changes depending on the output of products produced

Fixed costs are costs that remain the same no matter how much output is produced in the short term But in the long term the fixed cost may also become variable costs

Profit is earned when a firm's total revenue is higher than the total costs, profits are earned after the break even point.
The formula for profit is :
Sales revenue - total costs = profits or TR-TC= profits

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Fixed costs: Costs which are unaffected by the amount of output and usually do not change in the short run.

Variable Costs: These costs change according to the output value. Formula= Output * Cost for one

Profits: it's the amount of revenue that is left over or excess, once you deduct the production cost. It is the main driving factor for a business. Formula= total revenue - total production cost.

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Fixed Cost- A cost

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Fixed cost= is a business cost that remains the same no matter how much is produced
Variable cost= it change depending on the output