Question

Briefly explain relationship between total cost and marginal cost?​

Answer 1

Answer:

Hope this helps you !

Explanation:

The total cost of a business is composed of fixed costs and variable costs. Fixed costs and variable costs affect the marginal cost of production only if variable costs exist. The marginal cost of production is calculated by dividing the change in the total cost by a one-unit change in the production output level.

Answer 2

Answer:

Total cost is the total cost incurred for producing a commodity. It is arrived when Total fixed cost and Total variable cost are added together. Marginal cost refers to an additional cost incurred to produce an additional unit of a commodity.

Explanation:

mark me as brainlist