As Northern Ireland's capital city, Belfast is host to the Northern Ireland Assembly at Stormont, the site of the devolved legislature for Northern Ireland. Belfast is divided into four Northern Ireland Assembly and UK parliamentary constituencies: North Belfast, West Belfast, South Belfast and East Belfast.
Fixed Costs, Variable Costs, and Total Costs z Fixed costs are those that are spent and cannot be changed in the period of time under consideration. z In the long run there are no fixed costs since all costs are variable. z In the short run, a number of costs will be fixed. Fixed Costs, Variable Costs, and Total Costs z Workers represent variable costs â those that change as output changes. Fixed Costs, Variable Costs, and Total Costs z The sum of the variable and fixed costs are total costs. TC = FC + VC Average Costs z Much of the firmâs discussion is of average cost.
Fixed costs that stay the same month after month, such as your rent or mortgage, car payment, and cable bill. Fixed costs should take up 50% of your income. Variable costs that can change from month to month, such as entertainment, groceries, and clothing. Variable costs should take up 30% of your income. Savings, which should take up 20% of your income; The 50/20/30 rule allows you to retain some flexibility in your budget while saving a nice percentage of your income. While you can always adjust these percentages to accommodate your circumstances, limiting your fixed costs to 50% of your income should leave you with enough money left over to save and cover your variable expenses. Along these lines, allocating 30% of your income to variable costs means you'll have a decent amount of wiggle room within that category alone.