Distinguish between fixed and variable cost
Dear Student
FC are costs which do not change with a change in the level of output whereas VC are costs which vary directly with the change in the level of output. FC can never be zero even when production is stopped but VC is zero when production is stopped.
Regards
FC are costs which do not change with a change in the level of output whereas VC are costs which vary directly with the change in the level of output. FC can never be zero even when production is stopped but VC is zero when production is stopped.
Regards