Question

discuss about the various short run cost?​

Answer 1

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Total Fixed Cost (TFC): These costs do not change with the change in output. TFC remains constant even when the output is zero. TFC is represented by a straight line horizontal to the x-axis (output). Total Variable Cost (TVC): These costs are directly proportional to the output of a firm.

Answer 2

Short Run Total Cost

The total cost refers to the actual cost that is incurred by an organisation to produce a given level of output. The Short-Run Total Cost (SRTC) of an organisation consists of two main elements:

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