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What is variable cost

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Reference no: EM133287161

Regarding economics, please teach me how to answer the following questions:

Question 1. What is marginal cost? Please explain to me with easy words.

Question 2. What is variable cost?

Question 3. Can marginal cost ever be equal to variable cost?

Question 4. Please explain to me the meaning of the attached equation.

Reference no: EM133287161

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