BY definition, variable cost (VC) is related to total costs (TC) and fixed costs (FC) by the equation? By: Sunday|Published on: Aug 7|Categories: Economics WAEC| 0 comments A. VC =TC + FC B. VC = TC – FC C. VC = TC/FC D. VC = (TC)/(FC) Correct Answer: Option B – VC = TC – FC Users Also Read These:If the total fixed cost is the same regardless of…Given that the total fixed cost is N1,000, total…The cost incurred by using both fixed and variable…If TC, FC and VC represent total cost, fixed cost…What is the cost of running five 50W lamps and four…SEE ALSO For a firm; value added can be defined as the difference between the?