Total cost is
A)fixed cost plus variable cost
B)irrelevant to decision making
C)marginal cost plus fixed cost
D)total product minus total input
E)the additional cost associated with producing an additional unit

Question

Quizplus · Accepted Answer

Total cost consists of fixed cost (costs that do not vary with changes in output) and variable cost (costs that do vary with changes in output). Therefore, option A, fixed cost plus variable cost, is the correct choice.

Total Cost Is