A firm's short-run total cost (TC)is equal to

Name: A firm's short-run total cost (TC)is equal to
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Question

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Short-run total cost (TC) consists of both fixed costs and variable costs. Fixed costs are those that do not vary with changes in output, such as rent and equipment costs, while variable costs are those that do vary with changes in output, such as labor and raw material costs. Therefore, short-run TC is equal to fixed cost plus variable cost.

A Firm's Short-Run Total Cost (TC)is Equal to