Using the diagram below, which of the following would be a likely mathematical expression for Total Cost?
A)Total Cost = Total Variable Cost × Fixed Cost
B)Total Cost = Fixed Cost + Total Variable Cost
C)Total Cost = Total Variable Cost + Total Revenue × Production Volume
D)Total Cost = Fixed Cost + Total Variable Cost + Production Volume

Question

Using the diagram below, which of the following would be a likely mathematical expression for Total Cost? ​  ​
A)Total Cost = Total Variable Cost × Fixed Cost 
B)Total Cost = Fixed Cost + Total Variable Cost 
C)Total Cost = Total Variable Cost + Total Revenue × Production Volume 
D)Total Cost = Fixed Cost + Total Variable Cost + Production Volume

Quizplus · Accepted Answer

The diagram shows that Total Cost is the sum of Fixed Cost and Total Variable Cost, so option B - Total Cost = Fixed Cost + Total Variable Cost - is the likely mathematical expression for Total Cost.

Using the Diagram Below, Which of the Following Would Be