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Sagot :
The cost of renting the machine will be classified as Fixed cost.
Let understand that Marginal Cost refer to the cost incurred as a result of an additional unit of input in production while the Marginal revenue refers to revenue earned as a result of an additional unit of a input in production.
- Fixed cost refers to expense paid for continuation of specific business activities by a company. These cost remain constant and an example is Monthly rent, Premises lease.
In conclusion, the cost of renting the machine will be classified as Fixed cost because it is being used for the company business activity.
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