Question 16 (1 point)

Consider the following sets of costs at two different levels of production.

Units	3,000	5,000
	Total Cost	Total Cost
Cost J	$12,000	$20,000
Cost K	$12,000	$17,500
Cost L	$12,000	$12,000

Which of the following is true?

Question 16 options:

	Cost J is a fixed cost and cost K is a variable Cost
	Cost J is a variable cost and Cost L is a fixed cost
	Cost J is a mixed cost and Cost L is a variable cost
	Cost K is a fixed cost and Cost J is a variable cost
	Cost J is a mixed cost and Cost L is a fixed Cost