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Question
Total cost refers to
A. the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold.
B. the change in expenses that results from producing and marketing one additional unit of a product.
C. the average amount of money received for selling one unit of a product or simply the price of that unit.
D. the sum of the expenses of the firm that vary directly with the quantity of a product that is produced and sold.
E. the total expense incurred by a firm in producing and marketing a product, which equals the sum of fixed cost and variable cost.
Answer
This answer is hidden. It contains 44 characters.
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