Answer:
a = Total Fixed Cost
Explanation:
Total Cost is the total expenditure incurred on production of goods & services.
Total Cost can be segmented into : Fixed Cost - on fixed factors (eg plant), not varying with level of output and Variable Cost - on variable factors (eg raw materials), directly varying with level of output.
In Total Cost Function : Y = a + bX ; a = Constant Fixed Cost , bX = Variable cost varying with level of output X.
