Chapter 5 - Producer's Behaviour Economics Solutions for Class 12 Commerce Economics
Total Cost is the total expenditure incurred by a firm.
Answer: Total Cost is the total expenditure incurred by a firm. - True
Explanation:
Yes. Total cost refers to the total expenditure incurred by a firm to carry out the production of goods and services. It is the aggregate of expenditure incurred on fixed factors as well as variable factors. That is,
TC = TFC + TVC