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Question
How Is Total Cost Calculated?
How Is Total Cost Calculated?
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Solution
In economics, total cost is calculated as the sum total of all variable and fixed costs. It can be represented mathematically as:
Total Cost = Total Variable cost + Total Fixed Cost
Or
TC = TVC + TFC
Also read:
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
In economics, total cost is calculated as the sum total of all variable and fixed costs. It can be represented mathematically as:
Total Cost = Total Variable cost + Total Fixed Cost
Or
TC = TVC + TFC
Also read:
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
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