Homework: Problem Set Chapter 8 Hw Score: 0%, 0 of 50 pts Text Problem 1.1 at 7
ID: 1106200 • Letter: H
Question
Homework: Problem Set Chapter 8 Hw Score: 0%, 0 of 50 pts Text Problem 1.1 at 7 percent ir ab 0 per gallion Finally, suppose that wear and lear on the 30 miles per galion and unes regular-grade gasoline that costs $196 Which costs are fxod, and which ane variable? wear and tear, varlable costs are the cost of gasolie and bear Fxed cost is the monthly car payment variable coats are the cost of c. Foed costs are the monthly car paymant and the cost of D. Fixed costs are the monthly car payment, the oost of insurance, and the cost of gasoline; variable costs are the costs associated with wear and ar cost of driving a mile is S(Round your response to two deoimal places)Explanation / Answer
Correct option: (C)
Reason: Insurance and car payment monthly are to be paid irrespective of miles drove (making them fixed costs) while gasoline and wear and tear are dependent on how much car is driven, making them variable costs.
2.
MC of driving a mile is = $1.96/30 = $0.0653
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