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Question

Which of the following statements is correct?


A

Fixed costs vary with change in output

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B

If we add total variable cost and total fixed cost we get the average cost

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C

Marginal cost is the result of total cost divided by number of units produced

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D

Total cost is obtained by adding up the total fixed cost and the total variable cost

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Solution

The correct option is D

Total cost is obtained by adding up the total fixed cost and the total variable cost


TC = TFC + TVC


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