Difference between revisions of "Total cost"
(Created page with "Total cost is all the costs that a firm must incur in the process of production. ==Definitions== According to Principles of Economics by Timothy Taylor (3rd edition),...") |
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According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
:[[Total cost]]. All the costs that a firm must incur in the process of production. | :[[Total cost]]. All the costs that a firm must incur in the process of production. | ||
| + | According to [[Marketing Management by Keller and Kotler (15th edition)]], | ||
| + | :[[Total cost]]. The sum of the fixed and variable costs for any given level of production. | ||
| − | [[Category: Economics]][[Category: Articles]] | + | |
| + | [[Category: Marketing Management]][[Category: Economics]][[Category: Articles]] | ||
Revision as of 21:02, 4 June 2020
Total cost is all the costs that a firm must incur in the process of production.
Definitions
According to Principles of Economics by Timothy Taylor (3rd edition),
- Total cost. All the costs that a firm must incur in the process of production.
According to Marketing Management by Keller and Kotler (15th edition),
- Total cost. The sum of the fixed and variable costs for any given level of production.
