Relation between TC TVC TFC?
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Posted by Harshu Rai 6 years, 11 months ago
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Gaurav Seth 6 years, 11 months ago
<font face="Arial"><font color="#ff00ff">Total Cost</font></font><font face="Arial"> (TC) is the cost of all the productive resources used by the firm. It can be divided into two separate costs in the short run.</font>
<font face="Arial"><font color="#ff00ff">Total Fixed Cost</font></font><font face="Arial"> (TFC) is costs of firm’s fixed resources; TFC does not vary with changes in short-run output.</font>
<font face="Arial"><font color="#ff00ff">Total Variable Cost</font></font><font face="Arial"> ( TVC) are costs of firm’s variable resources, TVC does vary with changes in output.</font>
<font face="Arial"><font color="#ff00ff"><font style="background-color: rgb(255, 255, 255);">TC = TFC + TVC</font></font></font>
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