State whether the following statement is TRUE and FALSETotal Cost is t

1.	State whether the following statement is TRUE and FALSETotal Cost is the total expenditure incurred by a firm.OptionsTrueFalse
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

State whether the following statement is TRUE and FALSETotal Cost is the total expenditure incurred by a firm.OptionsTrueFalse

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

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State whether the following statement is TRUE and FALSETotal Cost is the total expenditure incurred by a firm.OptionsTrueFalse

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