Solved

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

Question 2

Multiple Choice

The relationship between the long-run total cost curve and the marginal and average cost curves is best described by which of the following statements?


A) The slope of the total cost curve from the origin to a point on the total cost curve is how you derive the marginal cost curve while the average cost is given by TC/Q.
B) Marginal cost is MC/Q while average cost is TC/Q.
C) Marginal cost is derived by dividing total cost by a constant as is average cost.
D) The slope of the total cost curve at each point is how you derive the marginal cost curve while the slope from the origin to a point on the total cost curve is how you derive the average cost curve.

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents