Question

8
• Statement 1: Opportunity cost is an
economic cost, Statement 2: Total cost is
an addition of fixed cost and marginal cost
State whether above staements are
correct or incorrect.
9 g
A
A
A
Answer
AD
A.
Both the statements are correct
10
12
3
147
B.
Both the statements are incorrect
c
C. Statement 1 is correct while
statement 2 is incorrect
D. Statement 1 is incorrect while
statement 2 is correct
B В
151=
167​

Answer 1

Answer:

FIND THE CORRECT QUESTION?

Explanation:

READ YOUR BOOKS CORRECTLY. THEN YOU WILL FIND ALL ANSWERS.

YOUR QUESTION IS WRONG SO PLEASE GIVE CORRECT QUESTION.

Answer 2

(C) Statement 1 is correct while Statement 2 is incorrect.

Explanation:

The benefit that might have been gained had an option not been chosen is known as opportunity cost. Opportunity and accounting costs are included in the economic cost.

The sum of total fixed and variable costs, on the other hand, is the total cost.

The difference in total production costs caused by creating or producing one additional unit is known as the marginal cost of production.