Question

relationship between Average Cost and Marginal Cost

Answer 1

when marginal cost is equal to average cost,it is the minimum point of the latter. it is important to note that as long as the marginal cost is less than the average cost,each additional unit of output will add less to total cost in comparison to ther average (per unit) cost incurred​ in the previous unit.

Answer 2

AC < MC,Ac or Mc both increase
AC > MC,Ac falls
AC=MC,Ac minimum pointp