Home › CBSE Class 11 (Arts) › Economics › Microeconomics: Producer Behaviour and Supply › Marginal cost is equal to which feature of the t…
Marginal cost is equal to which feature of the total cost function?
AIts slope
BIts intercept
CIts total area
DIts maximum
Answer & Solution
Correct answer: A. Its slope
Marginal cost is the change in total cost for one more unit, which is the slope of the total cost function.
Related questions
What does a supply schedule show?Labour supply is the time people will work as a function of what?For a perfectly competitive seller, how is the price determined?What is said about a supply curve for a monopoly?A supply function can be derived only under which market structure?Which law shapes the short-run marginal cost curve and hence supply?A firm's long-run supply curve is the LRMC portion above the minimum of which cost?The shutdown point lies at the minimum of which cost?