A cost varying with the level of output. In the short run, it is distinct from a fixed cost (the same at all levels of output); in the long run all costs are variable. Labour, the favourite example of such a cost, has become more fixed in nature in...

The direct cost of running a business, particularly labour, energy and raw material costs; VARIABLE COSTS. A term used by MARSHALL. See also: supplementary...

1 A production cost directly attributable to the cost of producing one unit of a particular output. 2 Variable cost. See also: indirect...

Variable costs are expenses that change in proportion to the activity of a business. In other words, variable cost is the sum of marginal costs. Along with fixed costs, variable costs make up the two components of total cost. Direct Costs, however, are...