Interactive Glossary
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Variable costs:
Those costs that vary with the level of output, e.g., fuel costs. These costs increase as output increases, unlike
fixed
and
sunk costs
, which are unchanged when output changes.
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Previously viewed words:
Value-added tax (VAT)
Valuation
Unregulated charges or services
Unlimited liability
Unbundled utility services
Ultimate customers (consumers)
Type II error
Type I error
Two-part tariff
Twisted pair