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Explain the concept of marginal cost wit...

Explain the concept of marginal cost with the help of a hypothetical schedule and diagram.

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Marginal cost is addition to the total cost caused by producing one more unit of output. In other words, marginal cost is the addition to the total cost of producing n units instead of n – 1 unit (i.e., one less) where n is any given number.
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SANDEEP GARG-COST-Short Answer
  1. What is the meaning of fixed cost? Draw a fixed cost curve with the h...

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  2. Explain, in brief, the meaning of variable cost with the help of a h...

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  3. Distinguish between fixed costs and variable costs. Give two examples...

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  4. Define average variable cost (AFC) ? Discuss the shape of AFC curve w...

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  5. What is meant by averge variable cost (AVC) ? Why is AVC curve U-shape...

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  6. Explain the concept of marginal cost with the help of a hypothetical ...

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  7. Why does the vertical distance between AC curve and AVC curve gradual...

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  8. What is the relationship between marginal cost and average variable ...

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  9. Explain the relation between marginal cost and average cost.

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  10. Draw average total cost, average variable cost and marginal cost curve...

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  11. State the relation between total cost and marginal cost.

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  12. Discuss the relationship between TVC and MC. OR Draw a diagram sho...

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  13. State the behaviour of Total Variable Cost. Draw Total Variable Cost, ...

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  14. Explain the behaviour of Average Fixed Cost. Use diagram.

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  15. What is the behaviour of average fixed cost as output is increased ? W...

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  16. Define cost. State the relation between marginal cost and average ...

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  17. What is the behaviour of (a) Average Fixed Cost and (b) Average Variab...

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  18. Explain the distinction between "change in quantity supplied" and "c...

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  19. Define cost. State the behaviour of : (a) Total Fixed Cost and (b) Tot...

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  20. Justify the statement, 'in economics, normal profits are always a part...

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