Economics · Theory of Cost

When the Average Cost (AC) of production is declining, the Marginal Cost (MC) must be:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Constant and zero
2Less than the average cost✓
3Greater than the average cost
4Equal to the average cost

Correct answer

Less than the average cost

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When the Average Cost (AC) of production is declining, the Marginal Cost (MC) must be:

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When the Average Cost (AC) of production is declining, the Marginal Cost (MC) must be:

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