The Relationship Between the Long-Run Total Cost Curve and the Marginal

question 36

Multiple Choice

The relationship between the long-run total cost curve and the marginal and average cost curves is best described by which of the following statements?

• A)The slope of the total cost curve from the origin to a point on the total cost curve is how you derive the marginal cost curve while the average cost is given by TC/Q.
• B)Marginal cost is MC/Q while average cost is TC/Q.
• C)Marginal cost is derived by dividing total cost by a constant as is average cost.
• D)The slope of the total cost curve at each point is how you derive the marginal cost curve while the slope from the origin to a point on the total cost curve is how you derive the average cost curve.

---

Definitions:

Ethics in Sociology

Concerns the principles and guidelines that sociologists follow to conduct research and practice ethically, ensuring respect for subjects and integrity in work.

Informed Consent

A formal acknowledgment by research subjects (respondents) that they understand the purpose of the research and agree to be studied.

U.S. Government

A system of governance in the United States that is defined by the Constitution and composed of three branches: the legislative, executive, and judicial branches, which function to create, enforce, and interpret laws, respectively.

American Sociological Association

A professional association for sociologists in the United States, dedicated to advancing sociology as a scientific discipline and profession.