5. State the relationship between AC and MC.​

Explanation:

The relationship between the marginal cost and average cost is the same as that between any other marginal-average quantities. When marginal cost is less than average cost, average cost falls and when marginal cost is greater than average cost, average cost rises.

AC and MC both are derived from Total Cost (TC).

AC means TC per unit of output and MC means addition to TC when one or more output is produced.

answer; ///(c) i believe its it ignores cash flows following the payback period;