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Variable and Fixed Costs - Economics?

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For a person who owns and operates an automobile, insurance premiums are a _________________ and gasoline is a _________________.

variable cost; variable cost

variable cost; fixed cost

fixed cost; variable cost

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  1. fixed cost; variable cost

    There are no fixed costs in the long run.


  2. For a person who owns and operates an automobile, insurance premiums are a _________________ and gasoline is a _________________.

    fixed cost; variable cost

    Which of the following statements is TRUE?

    There are no fixed costs in the long run.
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