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Economics · May / June 2024 · Paper 12 · Question 13

2281Firms’ costs, revenue and objectives

What is a variable cost for a firm?

  1. Athe cost of raw materials
  2. Bthe interest payment on existing loans
  3. Cthe rent on the factory
  4. Dthe insurance on the factory buildings

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Correct answer: A. the cost of raw materials

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