Total cost is equal to the
A) sum of the total fixed cost and the total variable cost.
B) sum of the average fixed cost and the average variable cost.
C) difference between the average variable cost and the average fixed cost.
D) product of the marginal cost multiplied by the average total cost.

Question

Quizplus · Accepted Answer

Total cost is the sum of total fixed cost and total variable cost, as it includes all costs incurred in production.

Total Cost Is Equal to the