ENTREPRENEURSHIP

ENTREPRENEURIAL PLANNING

BUSINESS PLAN DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the following is the formula for total costs?
A
Total costs minus total variable costs
B
Total fixed costs plus total variable costs
C
Total costs plus total variable costs
D
Total fixed costs minus total variable costs
Explanation: 

Detailed explanation-1: -Adding together the fixed and variable costs per product gives you the total cost of the product. For instance, if the variable cost per basketball is $5.20 and the fixed cost is 80 cents, your total cost is $6.00 per ball. This means you must charge your customers more than that to make a profit.

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