What is the total cost of producing outputthe total cost of, Ask an Expert

Economics

What is the total cost of producing output?

The total cost of producing a specified quantity of output is the total of the fixed cost along with the variable cost of producing which quantity of output.

TC= FC + VC

The total cost curve turns into steeper as more output is produced because of diminishing returns.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9581475

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