Average cost curves (except for average fixed cost) tend to be U-shaped, decreasing and then increasing. Marginal
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Average cost curves (except for average fixed cost) tend to be U-shaped, decreasing and then increasing. Marginal cost curves have the same shape, though this may be harder to see since most of the marginal cost curve is increasing. Why do you think that average and marginal cost curves have the same general shape?
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Average cost and marginal cost curves generally have the same Ushaped shape because of the relationship between these two cost concepts and how they a...View the full answer
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