The cost incurred by using both fixed and variable factors in production is called

The cost incurred by using both fixed and variable factors in production is called "total cost." Total cost is the sum of all costs of production, including fixed costs (costs that do not vary with changes in the level of production) and variable costs (costs that do vary with changes in the level of production). It represents the full cost of producing a certain quantity of output, and is an important concept in economics and business management.