Economics A-Level
Variable costs
What Variable costs means in Economics A-Level, as defined for AQA.
Definition of Variable costs
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Reference: AQA
Business expenses that vary directly with the level of output, increasing as a firm produces more goods.
Topics that use Variable costs
- Costs of production (AQA A-Level)
Related terms
- Cost curve geometry
- Diminishing marginal returns
- Economies of scale
- Factor prices
- Factors of production
- Fixed and variable costs
- Fixed costs
- Long-run costs
Using Variable costs in the exam
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