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Economics · May / June 2025 · Paper 12 · Question 13

2281Firms’ costs, revenue and objectives

What are fixed costs?

  1. Acosts that are divided by the amount produced
  2. Bcosts that are present when output is zero
  3. Ccosts that change according to the level of output
  4. Dcosts that decrease when output increases

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Correct answer: B. costs that are present when output is zero

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