When product demand fluctuates and yet you maintain a constant level of employment, some of your cost savings might include:

a) Reduction in hiring costs.

b) Reduction in layoff costs and unemployment insurance costs.

c) Lack of need to pay a premium wage to get workers to accept unstable employment.

d) Having a trained workforce rather than having to retrain new employees each time you hire for an upswing in demand.

e) All of the above.