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The price at which goods or services are offered by a business to their customers is called: Selling price. Costs that must be paid regardless of how much of a good or service is produced. They do not change in the short term, regardless of output are called: Fixed costs. Costs that change based on the amount of goods and services produced: Variable costs. Rent, administrative costs, insurance, employee salary are examples of ..: Fixed costs. What is the equation for revenue: Price x Quantity. Which two of the following are variable costs: Water. What is meant by the term net profit: It is what is left over after all costs have been deducted. Raw materials: £100Rent: £200Interest on a bank loan £50Cost of packaging £30Total operational expenses: : £250