Relationship between TVC and MC? – InterviewSolution

InterviewSolution

1.	Relationship between TVC and MC?
Answer» Explanation:Both AVC and MC are DERIVED from total variable cost (TVC). AVC REFERS to TVC per unit of output and MC is the addition to TVC, when one more unit of output is produced. ... The relationship between AVC and MC can be better ILLUSTRATED with the help of following SCHEDULE and DIAGRAM.

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