what is the difference between fixed factor and variable factor?
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A fixed factor is one, whose quantity cannot readily be changed in response to desired changes in output or market conditions. Its quantity remains the same, whether the level of output is more or less or zero. ... A variable factor, on the other hand, is one whose quantity may be changed in response to a change in output.
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Although the variations of these two variables depend on something else in the real sense, the difference is what they depend on. A dependent variable depends on an independent variable, while an independent variable depends on external manipulation.
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Fixed costs often include rent, buildings, machinery, etc. Variable costs are costs that vary with output. Generally variable costs increase at a constant rate relative to labor and capital. Variable costs may include wages, utilities, materials used in production, etc.
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Variable & Fixed Cost Fixed costs often include rent, buildings, machinery, etc. Variable costs are costs that vary with output. Generally variable costs increase at a constant rate relative to labor and capital. Variable costs may include wages, utilities, materials used in production, etc.
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Key Difference between Constant and Variables A constant does not change its value over time. A variable, on the other hand, changes its value dependent on the equation. ... Constants usually represent known values in an equation, expression or in line of programming. Variables, on the other hand, represent unknown values.
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Generally speaking, variable costs are more relevant to production decisions than fixed costs. ... Therefore, in most straightforward instances, fixed costs are not relevant for production decision, and incremental costs, or variable costs, are relevant for these decisions.
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In this context, a factor is still a variable, but it refers to a categorical independent variable. ... In both cases, those are referring to a categorical independent variable. Like covariates, factors in a linear model can be either control variables or important independent variables.
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In short, a fixed ND filter will deliver higher quality images, while a variable ND filter offers far more speed, flexibility and convenience. A variable ND filter will also save you a lot more money in the long run than buying lots of fixed ND filters at different strengths.
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Fixed Income X Variable Income Gains or losses on initial capital; In fixed income the investor does not lose the capital that is applied initially, even if the interest is not a great thing; In variable income, if the interest is negative, the investor may lose part of the money invested initially.
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Factors and multiples are different things. But they both involve multiplication: Factors are what we can multiply to get the number. Multiples are what we get after multiplying the number by an integer (not a fraction).
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Yes, there is the difference between GCF and GCD is that GCF is the greatest common factor and GCD is the greatest common denominator. A factor is a number or quantity that when multiplied with another produces a given number or expression. A denominator is the number below the line in a common fraction; a divisor.
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Term: Each expression is made up of terms. A term can be a signed number, a variable, or a constant multiplied by a variable or variables. Factor: Something which is multiplied by something else. ... For example, the expression 7x(y+3) has three factors: 7 , x , and (y+3) .
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A variable is a factor that can change in quality, quantity, or size, which you have to take into account in a situation. Decisions could be made on the basis of price, delivery dates, or any other variable. American English: variable.
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But they both involve multiplication: Factors are what we can multiply to get the number. Multiples are what we get after multiplying the number by an integer (not a fraction).
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As nouns the difference between ratio and factor is that ratio is a number representing a comparison between two things while factor is (obsolete) a doer, maker; a person who does things for another person or organization.
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Fixed costs are expenses that remain the same regardless of production output. ... Examples of variable costs are sales commissions, direct labor costs, cost of raw materials used in production, and utility costs.
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By contrast, a variable cost is one that changes based on production output and costs. ... There is a marginal cost when there are changes in the total cost of production. Since fixed costs are constant, they do not contribute to a change in total production costs. Therefore, marginal costs exist when variable costs exist.