In economics, total cost is made up of variable costs + fixed costs. Variable costs (VC) are costs that change based on how many goods you produce or how much of a service you use. Fixed costs (FC) are costs that don't change from month to month and don't vary based on activities or the number of goods used.The formula to calculate total cost is the following: TC (total cost) = TFC (total fixed cost) + TVC (total variable cost). To unlock this lesson you must be a Study.com Member.he formula to calculate total cost is the following: TC (total cost) = TFC (total fixed cost) + TVC (total variable cost). To unlock this lesson you must be a Study.com Member.
The definition of microcredit that was adopted there was: Microcredit programmes extend small loans to very poor people for self-employment projects that generate income, allowing them to care for themselves and their families. Definitions deffer, of course, from country to country.
Noun. 1. micron-a metric unit of length equal to one millionth of a meter. micrometer. metric linear unit-a linear unit of distance in metric terms. micromillimeter, micromillimetre, millimicron, nanometer, nanometre, nm-a metric unit of length equal to one billionth of a meter.