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Which of the following best describes Total costs?

A. The cost incurred on additional unit of output

B. The cost incurred on one unit of output on an average

C. The sum of total variable costs and total fixed costs

D. The cost of the next best alternative given up

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Yusra Anees
Yusra AneesLv10
4 Nov 2020

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Related questions

Which best describes total fixed costs?

a. The change in total cost is the additional unit of output produced. 

b. The total cost divided by the quantity of output produced.

c. Total variable cost divided by the quantity of output produced. 

d. Costs that do not vary as output varies. 

Which of the following best describes total fixed cost?

a.The change in the total cost when one additional unit of output is produced.

b. Total cost divided by the quantity of output produced

c. Total fixed cost costs divided by the quantity of output produced.

d. Costs that do not vary as output varies.

Which of the following best describes total fixed cost?

a. The change in total cost when one additional unit of output is produced

b. Total cost divide by the quantity of output produced

c. Total variable cost divided by the quantity of output produced

d. Total cost divided by the quantity of output produced

e. Costs that do not vary as output varies

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