Manager A of firm XYZ said to the manager B of the same firm :In long run there are no fixed costs. To this manager B replied :So, does that mean our total cost and the total variable cost will coincide in the long run? What you think Manager A should reply?

Yes No I don't know None of above

Yes

In the long run, all inputs are variable. There are no fixed costs. The total cost and the total variable cost therefore, coincide in the long run.