Question

Explain the relationship between average cost and marginal cost.

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Answer 1

Answer:

Relationship Between Average and Marginal 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.

Explanation:

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Answer 2

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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