Economy, asked by saurabh2000upadhyay, 1 year ago

3 names of Total variable cost

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Answered by saswat2084

Here is ur answer buddy

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Answered by aqibkincsem

Answer:

Variable cost is known by 3 other names - direct cost, prime cost and avoidable cost. In economics when we consider production, we consider two types of cost that are a fixed cost and variable cost.

Fixed cost are those costs that a factory incurs over fixed inputs like land, electricity, rent etc. On the other hand, variable cost refers to the cost incurred by a factory on those inputs which are not fixed like labour.

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