Total cost is equal to the sum of
A) total variable cost and total product.
B) the marginal cost plus the total fixed cost plus the total variable cost.
C) total variable cost and total fixed cost.
D) total fixed cost and total product.
E) total revenue and total cost.

Question

Quizplus · Accepted Answer

Total cost is the sum of both fixed and variable costs. Therefore, the correct option is C, which states that total cost is equal to the sum of total variable cost and total fixed cost.

Total Cost Is Equal to the Sum of