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O-LevelEconomicsMicroeconomic decision makers2281/12 · May/June 2024 · Q131 Mark

What is a variable cost for a firm?

Athe cost of raw materials
Bthe interest payment on existing loans
Cthe rent on the factory
Dthe insurance on the factory buildings

✓ Correct answer

A: the cost of raw materials

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About this question

Topic
Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source
O-Level Economics, May/June 2024 Paper 1 Variant 2, question 13.

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