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Homework answers / question archive / When the marginal cost curve is below an average cost curve, the average cost is [Math Processing Error]
When the marginal cost curve is below an average cost curve, the average cost is [Math Processing Error].
When the marginal cost curve is below an average cost curve, the average cost is declining.
The reason is that the marginal cost cuts average cost curve from below. Average cost starts increasing at quantities after the intersection. So, it must be falling before such intersection.
