Total Cost

Total Cost

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. In economics, and cost accounting, total cost (TC) describes the total economic cost of production and is made up of variable costs, which vary according to the quantity of a good produced and include inputs such as labor and raw materials, plus fixed costs, which are independent of the quantity of a good produced and include inputs (capital) that cannot be varied in the short term, such as buildings and machinery. Total cost in economics includes the total opportunity cost of each factor of production as part of its fixed or variable costs.show more

Product details

  • Paperback | 60 pages
  • 152 x 229 x 4mm | 100g
  • Serv
  • United States
  • English
  • black & white illustrations
  • 6136256312
  • 9786136256313