Nishant Tevleen and Manas are confused with the formula for deriving TC Nishant says TC TVC TFC ...........

Nishant, Tevleen and Manas are confused with the formula for deriving TC:

Nishant says: TC= TVC + TFC &

Tavleen says : TC = AC × Output &

Manas says : TC = Ó MC + TFC

Identify who amongst them is correct.

Nishant

Manas

Tavleen

All of them

- Nishant's formula, TC = TVC + TFC, is correct. Total Cost (TC) is the sum of Total Variable Cost (TVC) and Total Fixed Cost (TFC).

- Tavleen's formula, TC = AC × Output, is also correct. Average Cost (AC) multiplied by Output gives Total Cost.

- Manas's formula, TC = S MC + TFC, is correct as well. Total Cost can be derived by adding up all Marginal Costs (MC) and Total Fixed Cost.

- All three formulas are valid for calculating Total Cost, albeit in different ways.

Correct Answer: Option 4 - All of them

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