chetanashrestha2020
chetanashrestha2020 chetanashrestha2020
  • 23-08-2021
  • Business
contestada

5. State the relationship between AC and MC.​

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shishamsharma
shishamsharma shishamsharma
  • 23-08-2021

Explanation:

The relationship between the marginal cost and average cost is the same as that between any other marginal-average quantities. When marginal cost is less than average cost, average cost falls and when marginal cost is greater than average cost, average cost rises.

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sabonaa2020
sabonaa2020 sabonaa2020
  • 23-08-2021

Answer:

AC and MC both are derived from Total Cost (TC).

AC means TC per unit of output and MC means addition to TC when one or more output is produced.

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