BY definition, variable cost (VC) is related to total costs (TC) and fixed costs (FC) by the equation?

by | Aug 7 | 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

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