if marginal cost is equal to average total cost, then: a marginal cost is increasing. b average variable cost is decreasing. c average total cost is at its maximum. d average total cost is increasing. e average total cost is at its minimum.

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21-10-2022
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if marginal cost is equal to average total cost, then: a marginal cost is increasing. b average variable cost is decreasing. c average total cost is at its maximum. d average total cost is increasing. e average total cost is at its minimum.

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qwteddy qwteddy · Answer 1 · 2022-10-26T15:20:04+02:00

if the marginal cost is equal to the average total cost, then the average total cost is at its minimum.

The marginal cost in economics is the difference in total cost that results from increasing the quantity produced, or the price of producing more.

The term "marginal cost" describes the rise or fall in price associated with producing or providing services to an additional consumer. It also goes by the name incremental cost.

The marginal cost is lower than the average cost as the average cost drops. The marginal cost is higher than the average cost when the average cost rises. The marginal cost is equal to the average cost when the average cost remains constant (at a minimum or maximum).

Unit costs and productivity are summarized by the average cost curves. The productivity curves' mirror images are the cost curves. ATC = (VC + FC) /TP. When average cost curves are falling, the marginal cost (MC) curve is below them; conversely, when they are rising, it is above them.

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