What is the relationship between marginal cost and marginal product
Asked by admin @ in Advanced Placement (AP) viewed by 436 People
Explain the relationship between the marginal product curve and the marginal cost curve.
Asked by admin @ in Advanced Placement (AP) viewed by 436 People
Explain the relationship between the marginal product curve and the marginal cost curve.
Answered by admin @
The increasing portion of the marginal product curve corresponds with the decreasing portion of the marginal cost curve.
The quantity of output in which marginal cost is at a minimum is the same quantity of output produced by the variable input when the marginal product of the variable input is at a maximum.
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