2. A private university hired an assistant professor to teach a challenging course for postgraduate students....

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2. A private university hired an assistant professor to teach a challenging course for postgraduate students. The assistant professor is to be paid per hour. Which of the following statements is TRUE about the costs for a set-up like this university? a. The assistant professor's payment is variable costs. b. The rental for the lecture theatre is a fixed cost. c. The salaries of student services and main reception employees on the university payroll are fixed costs. d. All of the above 2. A private university hired an assistant professor to teach a challenging course for postgraduate students. The assistant professor is to be paid per hour. Which of the following statements is TRUE about the costs for a set-up like this university? a. The assistant professor's payment is variable costs. b. The rental for the lecture theatre is a fixed cost. c. The salaries of student services and main reception employees on the university payroll are fixed costs. d. All of the above

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ANSWER B The rental for the lecture theatre is a fixed cost Fixed costs are costs that are independe... View the full answer