Total cost is a combination of fixed and variable costs.The algebraic equation,where T = total costs,v = variable costs,x =
A)T = vx + f
B)T = v + f
C)T = vx - f
D)T = fx + v

Question

Quizplus · Accepted Answer

The equation T = vx + f represents the total cost as a combination of variable costs (v) and fixed costs (f), where x is the quantity of the product being produced or the level of activity. This is the standard formula used to calculate total cost in an economic perspective.

Total Cost Is a Combination of Fixed and Variable Costs