Total cost

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.

According to Managerial Accounting by Braun, Tietz (5th edition),

Total cost. The cost of all resources used throughout the value chain.