fixed cost
constant
variable
both a and b
✅ The correct answer is A.
Component of total cost, which never changes with change in level of production is classified as fixed cost. A fixed cost is an expense that does not change as production volume increases or decreases within a relevant range.
Component of total cost, which never changes with change in level of production is classified as fixed cost. A fixed cost is an expense that does not change as production volume increases or decreases within a relevant range.