Explain the Mathematical Equation TC = FC + VC in Terms

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The Answer is Total cost (TC)-refers to the total cost that an owner would realize,with this being equal to the fixed costs (FC)and the variable costs (VC).The fixed costs (more in number)are the expenses that are stable and do not change.For example,rent on the stadium,salaries,and transportation.The variable costs (fewer in number)are expenses that vary and change as a result of the product being consumed.For example,advertising and game promotions for a minor league baseball team can and do vary depending on team performance.

Explain the Mathematical Equation TC = FC + VC in Terms

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Explain the Mathematical Equation TC = FC + VC in Terms

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Correct Answer:VerifiedShow Answer

Correct Answer:
Verified