Realationship between TC and MC

1.	Realationship between TC and MC
Answer» the relation between total cost and marginal cost:(i) Marginal cost is estimated as the difference between total costs of two successive units of output. Thus,MCn = TCn – TCn-1(ii) When MC is diminishing, TC increases at a diminishing rate.(iii) When MC is rising, TC increases at an increasing rate.(iv) When MC reaches its lowest poin, TC stops increasing at a decreasing rate.Briefly, MC is the rate of TC.

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