Question

explain the relationship between total cost,total variable cost and total fixed cost​

Answer 1

Answer:

Their relationship is as under: When output is zero, variable costs are also zero, but even then fixed costs are incurred. Thus at zero level of output, fixed cost and total costs are equal to each other. As output increases, total fixed cost remains constant but total cost and total variable cost go on increasing.

Explanation:

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Answer 2

Answer:

Total cost = Total fixed cost + Total variable cost

Explanation