Chapter 55, Problem 4MCQ

To determine

The slope of the total cost curve

Explanation of Solution

The slope of the total cost curve is equal to the marginal cost because any changes in total cost is the result of change in output with the change in total variable cost.

Therefore, the correct option is e.

Economics Concept Introduction

Introduction:

Total cost is the sum of all costs or expenses that are incurred by a business firm while doing business activities.

Average total cost is determined by summing up the average variable cost and average fixed cost.

Marginal cost is the cost or expense that is occurred by using one additional unit of good.