{"id":58325,"date":"2024-04-16T01:17:32","date_gmt":"2024-04-16T01:17:32","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=58325"},"modified":"2024-04-16T01:17:32","modified_gmt":"2024-04-16T01:17:32","slug":"in-linear-cost-function-which-is-y-a-bx-y-is-classified-as","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/in-linear-cost-function-which-is-y-a-bx-y-is-classified-as\/","title":{"rendered":"In linear cost function, which is y = a + bx, y is classified as"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;predicted fixed cost&#8221; option2=&#8221;predicted variable cost&#8221; option3=&#8221;predicted cost&#8221; option4=&#8221;predicted price&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>C. predicted cost<\/strong><\/p>\n<p>In a linear cost function, $y$ is the total cost, $a$ is the fixed cost, and $b$ is the variable cost per unit. The predicted cost is the total cost of producing a certain number of units, which is equal to $a + bx$, where $x$ is the number of units produced.<\/p>\n<ul>\n<li><strong>Fixed cost<\/strong> is the cost that does not change with the number of units produced. For example, the cost of renting a factory is a fixed cost.<\/li>\n<li><strong>Variable cost<\/strong> is the cost that changes with the number of units produced. For example, the cost of raw materials is a variable cost.<\/li>\n<li><strong>Price<\/strong> is the amount of money that a customer pays for a product or service. The price is not necessarily equal to the cost of producing the product or service.<\/li>\n<\/ul>\n<p>In conclusion, the correct answer is: <strong>C. predicted cost<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;predicted fixed cost&#8221; option2=&#8221;predicted variable cost&#8221; option3=&#8221;predicted cost&#8221; option4=&#8221;predicted price&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"class_list":["post-58325","post","type-post","status-publish","format-standard","hentry","category-costing","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>In linear cost function, which is y = a + bx, y is classified as<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/in-linear-cost-function-which-is-y-a-bx-y-is-classified-as\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In linear cost function, which is y = a + bx, y is classified as\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;predicted fixed cost&#8221; 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