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Explain this more in microeconomics. Marginal cost = Total costs / Quantity. Marginal costs usually have a hook-shape with decrease in additional costs (increased efficiency),
Explain this more in microeconomics. Marginal cost = Total costs / Quantity. Marginal costs usually have a hook-shape with decrease in additional costs (increased efficiency), then an increase in costs (decrease in efficiency) with an increase in output (Q). With the cost curves. the Marginal Cost curve becomes the Supply curve, because no business will produce unless they can cover the additional costs. The MC curve can be seen below
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