1) the sum of all costs incurred by a firm in producing a) Variable costs b) Total costs c) Fixed costs d) Total revenue 2) The amount of money your business generates from selling your products or services a) Fixed costs b) Total revenue c) Total costs d) variable costs 3) costs that change as the quantity of the good or service that a business produces changes. a) Variable costs b) Total revenue c) Fixed costs d) Total costs 4) costs that do not change when sales or production volumes increase or decrease a) Total costs b) Variable costs c) Fixed costs d) Total revenue 5) a point in a business venture when the profits are equal to the costs. a) Profit b) Loss c) Total revenue d) Break-even

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