Consider the relationship between the long-run total cost curve and the marginal and average cost curve. Marginal cost is derived by dividing total cost by a constant as is average cost.

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Marginal cost is derived by taking the derivative of the total cost with respect to quantity, indicating the change in total cost from producing one more unit. Average cost is derived by dividing total cost by the quantity of output produced.

Consider the Relationship Between the Long-Run Total Cost Curve and the Marginal