To improve productivity, a local bakery rents a machine that mixes, partitions, and then bakes dough for a variety of pastries. The machine costs the business $2,500 per month to rent and operate, regardless of output. The cost of renting the machine is classified as _____.(1 point)

A. marginal revenue
B.a variable cost
C. a fixed cost
D. marginal cost

Question

04-10-2021
English

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To improve productivity, a local bakery rents a machine that mixes, partitions, and then bakes dough for a variety of pastries. The machine costs the business $2,500 per month to rent and operate, regardless of output. The cost of renting the machine is classified as _____.(1 point)

A. marginal revenue
B.a variable cost
C. a fixed cost
D. marginal cost

Sagot :

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adioabiola adioabiola · Answer 1 · 2021-10-07T06:51:58-04:00

Cost refers to the total amount of money spent on the production of a particular units of product at a particular time.

The cost of renting the machine is classified as variable cost.

Types of cost:

Fixed cost : This is a type of cost that does not change with changes in production. This means, fixed cost remains constant during production. Examples: cost of machinery, cost of land, cost of building.

Variable cost: This type of cost changes with change in production. Examples; cost of raw material, salaries of employees, cost of renting machine etc.

Marginal cost: It changes with the changes in additional units of inputs in production.

Sagot :

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