The cost incurred by using both fixed and variable factors in production is called? by Sunday | May 26 | Economics WAEC | 0 comments A. marginal cost B. fixed cost C. total cost D. average cost Correct Answer: Option C C. total cost Users Also Read These:A fixed cost is fixed only in relation to?If TC, FC and VC represent total cost, fixed cost…If a firm's price is less than average cost but more…The variable which is both a control and an element…BY definition, variable cost (VC) is related to…