ECONOMICS

Detailed explanation-1: -Mixed costs refer to expenses that include both fixed and variable costs.

Detailed explanation-2: -Variable costs change based on the amount of output produced. Variable costs may include labor, commissions, and raw materials. Fixed costs remain the same regardless of production output. Fixed costs may include lease and rental payments, insurance, and interest payments.

Detailed explanation-3: -Total cost in the short run is classified into fixed costs and variable costs.

Detailed explanation-4: -Answer: This cost behavior pattern is called a fixed cost. A fixed cost. describes a cost that is fixed (does not change) in total with changes in volume of activity. Assuming the activity is the number of bikes produced and sold, examples of fixed costs include salaried personnel, building rent, and insurance.

Detailed explanation-5: -A mixed cost is one that contains both variable and fixed cost elements.