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Variable costs are expenses that vary directly with the size of a firm's output. As output increases over the range of production, the variable costs fluctuate. Variable costs include raw materials, labor, fuel, and wear and tear on equipment.
Variable costs are expenses that vary directly with the size of a firm's output. As output increases over the range of production, the variable costs fluctuate. Variable costs include raw materials, labor, fuel, and wear and tear on equipment.
[[category:economics]]