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Doctors Medicines MCQs Q&A

  1. Cost of raw material
  2. Cost of equipment
  3. Interest payment on past borrowing
  4. Payment of rent on buildings
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1 Answers

Answer: Option 1

Total costs in the short-term are classified into fixed costs and variable costs. Cost of raw material is a variable cost. Variable costs vary based on the amount of output, while fixed costs are the same regardless of production output.

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