Question

If TFC and TVC are given, how will you estimate the TC?

Answer 1

If TFC (Total Fixed Cost) and TVC (Total Variable Cost) are given, Total Cost (TC) can be estimated by adding both. 

Formula:

TC = TFC + TVC

Example: If TFC = ₹ 120, TVC = ₹ 76 

Then, 

TC = ₹ 120 + ₹ 76 = ₹ 196