Decision Making Flashcards
1
Q
Y = A + Bx
A
TC = Fixed + Variable(x)
2
Q
Y is
A
Total Cost (a dependent variable)
3
Q
X is
A
Volume (a independent variable)
4
Q
A is
A
Fixed cost
5
Q
B is
A
Variable Cost per unit
6
Q
Fixed Costs are fixed in
A
total but variable per unit
7
Q
Variable Costs are fixed
A
per unit but variable in total
