Marginal cost equalsa.None of the above are correct.b.total cost divided by quantity of output produced.c.the slope of the total cost curve.d.total output divided by the change in total cost.

Choose all answers that are correct:  the marginal cost is the slope of theGroup of answer choicesThe variable cost curveThe marginal product curveThe average product curveThe total cost curveThe average cost curve

The marginal cost curve shows the relationship between:Multiple choice question.total cost and marginal cost.output and number of workers.marginal cost and output.marginal cost and number of workers.

Marginal cost can be defined as Group of answer choicesNone of the abovethe change is total fixed cost as a result of a change in outputthe change in average total cost as a result of a change in outputthe change in total variable cost as a result of a change in output

The marginal cost curve is:Multiple choice question.increasing for all levels of output.decreasing for low levels of output, then begins increasing.decreasing for all levels of output.increasing for low levels of output, then begins decreasing.

(b) (If you would like to, you can do part (c) first and use your answer to (c) to answerthis question.) Find the total cost of producing 32 units of output.(c) Find the total cost, average cost and marginal cost of producing y units of output.Is the average cost increasing or decreasing in y? Is the marginal cost higher or lowerthan the average cost?