What's it: Fixed costs are types of costs whose value is unaffected by changes in the amount of output. When a firm increases output or decreases output, it does not change. For example, the factory machine's rental cost is $15,000,000 for 1 year.
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What's it: Fixed costs are types of costs whose value is unaffected by changes in the amount of output. When a firm increases output or decreases output, it does not change. For example, the factory machine's rental cost is $15,000,000 for 1 year.