Get premium membership and access questions with answers, video lessons as well as revision papers.

Define marginal cost. Explain its relation with average cost

      

Define marginal cost. Explain its relation with average cost

  

Answers


marlyne
MC is addition to TC on producing one more unit of output.
When MC less than AC, AC falls.
When MC greater than AC, AC rises.
When MC = AC, AC is minimum and constant.
marlinbito answered the question on May 12, 2018 at 12:48


Next: "Choices have consequences". With adequate illustration from the novel river and the source discuss the truth of this statement
Previous: Explain the distinction between ‘’change in quantity supplied” and “change in supply”

View More Economics Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions