What is total cost?
A) the sum of total variable cost and marginal cost
B) the sum of average fixed cost and marginal cost
C) the sum of total variable cost and total fixed cost
D) the sum of total fixed cost and average variable cost

Question

Quizplus · Accepted Answer

Total cost is the sum of total variable cost and total fixed cost. This includes all costs incurred in the production process, including both fixed and variable costs.

What Is Total Cost