Final answer:
The statement 'Fixed costs are fixed per unit produced, but vary in total' is False. Fixed costs do not vary in total, but they remain constant regardless of the number of units produced. The correct option is B) False
Step-by-step explanation:
In economics, fixed costs are costs that do not change with the level of production. However, they do not vary in total. Therefore, the statement 'Fixed costs are fixed per unit produced, but vary in total' is False.
Fixed costs are constant and remain the same regardless of the number of units produced. Examples of fixed costs include rent, insurance, and salaries.
To calculate the total cost, we add the fixed costs to the variable costs, which are costs that change with the level of production. Variable costs include materials, labor, and utilities. The correct option is B) False