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Define marginal cost. Explain its relation with average cost

Define marginal cost. Explain its relation with average cost

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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

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