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5. State the relationship between AC and MC.​
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5. State the relationship between AC and MC.​

User Lidong Guo
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Answer:

AC and MC both are derived from Total Cost (TC).

AC means TC per unit of output and MC means addition to TC when one or more output is produced.

User Harlo Holmes
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Step-by-step explanation:

The relationship between the marginal cost and average cost is the same as that between any other marginal-average quantities. When marginal cost is less than average cost, average cost falls and when marginal cost is greater than average cost, average cost rises.

User Nikolay Hristov
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