what is the relation among tc,tvc,&tfc?
Answer (1)
15th Dec, 2021
Dear aspirant hope you are doing well.
Since the TFC curve is horizontal, the difference between the TC and TVC curve is the same at each level of output and equals TFC. This is explained as follows:
The relationship between TC, TVC & TFC
TC – TVC = TFC. The TFC curve is parallel to the horizontal axis while the TVC curve is inverted-S shaped.
Whereas. TC = TOTAL COST
TVC = TOTAL VARIABLE COST
TFC = TOTAL FIXED COST
Hope it's helpful
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