There exists vertical distance between 1. TVC and TC and (2) TC and TF – InterviewSolution

InterviewSolution

1.

There exists vertical distance between 1. TVC and TC and (2) TC and TFC. What does this distance indicate?

Answer»

1. The vertical distance between TVC and TC represents the Total Fixed Costs (TFC).

2. The vertical distance between TC and TFC represents the Total Variable Costs (TVC)

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