Question

Which of the following accurately describes total cost?a) It is the sum of the list price and incentives and allowances.b) It is the difference between the price and perceived benefits.c) It is the ratio of profit to total revenue.d) It is the product of unit price multiplied by the quantity sold.e) It is the sum of the fixed costs and variable costs.

Answer 1

It is the sum of the fixed costs and variable costs.

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