Question

what is the relationship between total fixed cost, total variable cost and total cost​

Answer 1

Explanation:

Components of Economic Costs

Total cost (TC): total cost equals total fixed cost plus total variable costs (TC = TFC + TVC). Variable cost (VC): the cost paid to the variable input. Inputs include labor, capital, materials, power, land, and buildings.

Answer 2

Answer:

Components of Economic Costs

Total cost (TC): total cost equals total fixed cost plus total variable costs (TC = TFC + TVC). Variable cost (VC): the cost paid to the variable input. Inputs include labor, capital, materials, power, land, and buildings.