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Total Costs Definition and Explanation PDF Download

Learn Total Costs definition in marketing with explanation to study “What is Total Costs”. Study total costs explanation with marketing terms to review marketing course for online MBA programs.

Total Costs Definitions:

  1. Sum of the fixed and variable costs for any given level of production.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



  2. Sum of the fixed and variable costs for any given level of production.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Total Costs Explanation:

In financial aspects, all out cost is the complete monetary expense of generation and is comprised of variable cost, which changes as indicated by the amount of a decent created and incorporates sources of info, for example, work and crude materials, in addition to fixed cost, which is free of the amount of a decent delivered and incorporates inputs that can't be shifted temporarily: fixed costs, for example, structures and apparatus, including sunk expenses assuming any. Since expense is estimated per unit of time, it is a stream variable. All out expense in financial aspects, not at all like in cost bookkeeping, incorporates the all out circumstance cost (certain expense) of each factor of creation as a feature of its fixed or variable expenses. The rate at which all out cost changes as the sum created changes is called peripheral expense. This is otherwise called the peripheral unit variable expense.

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