Answer:
total costs
Explanation:
The cost equation Y = a + bx represents the mixed cost which includes both fixed and variable components
The explanation of the cost equation is shown below:
Y = a + bx
where
Y = Total cost
a = Fixed cost
b = variable rate per unit for an activity
X = number of units in an activity
So, this cost equation is referred to the mixed cost which considers both types of cost i.e fixed cost and the variable cost
