Question

when total cost is equal to total variable cost class 11th economic​

Answer 1

In economics and cost accounting, total cost (TC) is the total economic cost of production and is made up of variable costs, which vary according to the quantity of a good produced and include inputs such as labour and raw materials, plus fixed costs, which are independent of the quantity of a good produced and include inputs that cannot be varied in the short term: fixed costs such as buildings and machinery.