Question

910. Show the relationship between short-run MC and MP1, and AYC and AP, mathematically

and graphically (1pts)​

Answer 1

Step-by-step explanation:

MC is at its minimum at the same output for which MP is at its maximum; AVC is at its minimum at the same output for which AP is at its maximum. A technological advance that increases productivity shifts the product curves upward and cost curves downward.