Linda enrolls in two semesters for a total of 20 credits at a cost of $550 per credit hour (tuition and fees), plus $350 for each semester's textbooks. $488 is the total cost for one month. The right response in this case is option A.
In economics, the total cost is the total of all expenses a company incurs in order to produce a particular level of production.
The total cost is the sum of all the expenses a firm has expended to create a specific level of output. Product managers can assess their overall profit margin by adding together their fixed and variable costs. The sum of the fixed and variable expenses is the total cost.
The total cost for one semester = 10(550) + 350
= 5850
Total cost for one month = 5850/12
= 487.5 = $488
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