Total cost curves in short run, Assignment Help, Homework Help

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Total cost curves in short run

Total cost curves Assignment Help

9.1.1 Total Fixed Cost (TFC)

Total Fixed Cost (TFC) does not vary with output as even if the output is zero unit or one thousand units i.e. it remains constant throughout the course. For instance, insurance premium and interest on bonds. TFC is represented by a straight line only.

9.1.2 Total Variable Cost (TVC)

The cost that is directly proportional to output i.e. when output increases TVC also increases and when output decreases, TVC falls.

9.1.3 Total Cost (TC)

Total Cost (TC) is obtained by adding Total fixed cost and Total variable cost. As we know that TFC remains same therefore all the changes in TC are entirely due to variations in TVC.


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