Using the diagram below, which of the following would be a likely mathematical expression for Total Cost?
A)Total Cost = Total Variable Cost × Fixed Cost
B)Total Cost = Fixed Cost + Total Variable Cost
C)Total Cost = Total Variable Cost + Total Revenue × Production Volume
D)Total Cost = Fixed Cost + Total Variable Cost + Production Volume

Question

Using the diagram below, which of the following would be a likely mathematical expression for Total Cost? ​  ​
A)Total Cost = Total Variable Cost × Fixed Cost 
B)Total Cost = Fixed Cost + Total Variable Cost 
C)Total Cost = Total Variable Cost + Total Revenue × Production Volume 
D)Total Cost = Fixed Cost + Total Variable Cost + Production Volume

Quizplus · Accepted Answer

Total cost is the sum of fixed cost and total variable cost, which is represented in option B.

Using the Diagram Below, Which of the Following Would Be