1. It refers to the variable cost + fixed cost.
A. Average Cost C.Marginal Cost
B. Fixed Cost D. Total Cost
2. It refers to the total cost of production divided by the number of units
produced.
A. Average Cost C.Marginal Cost
B. Fixed Cost D. Total Cost
3. It is the cost of producing one additional unit of output.
A. Average Cost C.Marginal Cost
B. Fixed Cost D. Total Cost

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4. Rent is an example of ___________ cost.
A. Average Cost C.Marginal Cost
B. Fixed Cost D. Total Cost
5. These are costs that change with the changes in the level of production.
A. Fixed Cost C. Total Cost
B. Marginal Cost D. Variable Cost
6. Utility cost is an example of ____________ cost.
A. Fixed Cost C. Total Cost
B. Marginal Cost D. Variable Cost
7. Selling Price minus (–) the purchase cost.
A. Fixed Cost C. Peso Mark up
B. Marginal Cost D. Markdown
8. What is the selling price of a food if the mark-up percentage is 12% and the
cost of production is 55.00?
A. 60.00 C. 70.00
B. 61.60 D. 75.00
9. In no. 8, what is the markup?
A. 3 C. 6.6
B. 5 D. 7
10. It is your profit per item.
C. Deduction C. Mark down
D. Income D. Mark Up