A cost that is directly proportional to the volume of output produced. When production is zero, the variable cost is equal to zero.
Similar Matches
Continuous random variable
Continuous random variable A random value that can take any fractional value within specified ranges, as contrasted with a discrete variable.
Dependent variable
Dependent variable Term used in regression
analysis to represent the element or condition that is dependent on values of one or
more other variables.
Discrete random variable
Discrete random variable A random variable that can take only a certain specified set of individual possible values-for example, the positive integers 1, 2, 3, . . .