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1. Describe a fixed cost and provide two examples of fixed costs related to production. Note that your examples must be related to production, so

1. Describe a fixed cost and provide two examples of fixed costs related to production. Note that your examples must be related to production, so stating that the salary of a marketing manager would be incorrect.

2. Describe a variable cost and provide two examples of variable costs related to production. Note that your examples must be related to production, so stating that the hourly wages of an accounting intern would be incorrect.

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