Which of the following statements concerning the relationships among the firm's total cost functions is false?
A)TC = TFC + TVC
B)TVC = TFC - TC
C)TFC = TC - TVC
D)TC = TFC when output = 0.

Name: Which of the following statements concerning the relationships among the firm's total cost functions is false? A)TC = TFC + TVC B)TVC = TFC - TC C)TFC = TC - TVC D)TC = TFC when output = 0.
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Question

Quizplus · Accepted Answer

TVC is the difference between TC and TFC, therefore TVC = TC - TFC.

Which of the Following Statements Concerning the Relationships Among the Firm's