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Statistics for Business and Economics13th EditionDavid R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams 1,691 solutions What is the relationship between marginal cost curve and average cost curve?The marginal cost curve intersects both the average variable cost curve and (short-run) average total cost curve at their minimum points. When the marginal cost curve is above an average cost curve the average curve is rising. When the marginal costs curve is below an average curve the average curve is falling.
What is the relationship between marginal cost and average total cost?When the average cost declines, the marginal cost is less than the average cost. When the average cost increases, the marginal cost is greater than the average cost. When the average cost stays the same (is at a minimum or maximum), the marginal cost equals the average cost.
What is the relationship between the average fixed cost curve and the marginal cost curve quizlet?What relationship exists between the average fixed cost (AFC) curve and the marginal cost (MC) curve? d. There is no relationship between the AFC curve and the MC curve.
What is the relationship between marginal cost and average cost curves Mcq?When MC is equal to AC, i.e. when MC and AC curves intersect each other at point A, AC is constant and at its minimum point. When MC is more than AC, AC rises with an increase in output, i.e. from 5 units of output. Thereafter, both AC and MC rise, but MC increases at a faster rate as compared to AC.
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