Economics · Theory of Cost
Match List I with List II: List I (Cost Concepts) A. Total Cost (TC) B. Total Fixed Cost (TFC) C. Sunk Cost D. Total Variable Cost (TVC) List II (Description) 1. Costs that cannot be recovered once incurred 2. Sum of fixed and variable costs 3. Costs that vary directly with output level 4. Costs that remain constant regardless of output Choose the correct match from the options given below:
- 1A-4, B-2, C-1, D-3
- 2A-2, B-1, C-4, D-3
- 3A-3, B-4, C-2, D-1
- 4A-2, B-4, C-1, D-3✓
Correct answer
A-2, B-4, C-1, D-3
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