Consider the relationship between the long-run total cost curve and the marginal and average cost curve. 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.

Question

Quizplus · Accepted Answer

The slope of the total cost curve at any point gives the marginal cost, not the relationship from the origin to a point on the curve. The average cost is indeed given by TC/Q, where TC is total cost and Q is the quantity of output.

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