Glossary · Micro · Production and costs

Total cost (TC)

Fixed cost plus variable cost, . Its slope at any output is marginal cost.

Also called: TC

Taught in: Fixed, Variable, and Total Cost

Related terms

Fixed cost (FC)Variable cost (VC)Marginal cost (MC)Average total cost (ATC)

More from production and costs

Average fixed cost (AFC)Average product of labor (APL)Average variable cost (AVC)Cobb-Douglas production functionEconomies and diseconomies of scaleIsoquant

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