Model Paper 3 — Economics STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 CommerceEconomicsModel Paper 31 Mark
MCQ
TVC can be calculated as:
A
TC - TFC
✓
TC - TFC and $\Sigma M C$
C
$\frac{A V C}{Q}$
D
$\Sigma MC$
✓
Answer
Correct option: B.
TC - TFC and $\Sigma M C$
(b) $TC - TFC$ and $\Sigma MC$ Explanation: Total cost is the sum total of total fixed cost and total variable cost. TVC= TC- TFC Marginal cost is an additional cost and additional cost cannot be fixed cost, it can be a variable cost. Accordingly, the sum total of marginal costs corresponding to different units of output becomeS TVC.
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