Changes

Total variable cost (TVC) is the cost that depends directly on the amount of output of a firm.  It increases as output increases.

'''Total variable cost (TVC)''' is the [[cost]] that depends directly on the amount of output of a firm.  It increases as output increases. For example, total variable costs include the expenses of [[fuel]], [[labor]] and raw materials.

For example, total variable costs include the expenses of fuel, labor and raw materials.

This is opposed to [[total fixed cost]], which is the cost a firm has no matter what output is.

[[Category:Economics]]

[[Category:Economics]]