Total variable cost
This is the current revision of Total variable cost as edited by GregLarson (talk | contribs) at 23:15, November 3, 2007. This URL is a permanent link to this version of this page.
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.
This is opposed to total fixed cost, which is the cost a firm has no matter what output is.