Economics · Microeconomics - Cost Concepts
If the Total Cost (TC) curve is a straight line sloping upward with a positive intercept on the Y-axis, what is the relationship between Marginal Cost (MC) and Average Cost (AC) for positive output levels?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1MC and AC cannot be compared
- 2MC > AC
- 3MC < AC✓
- 4MC = AC
Correct answer
MC < AC
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