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What is the total cost of producing output?
The total cost of producing a specified quantity of output is the total of the fixed cost along with the variable cost of producing which quantity of output.
TC= FC + VC
The total cost curve turns into steeper as more output is produced because of diminishing returns.
The study of the overall aspects and workings of a national economy is like as income, output, and the interrelationship between diverse economic sectors. It is the study of all as
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