Which of the following is (are) correct?
i) TC = TFC + TVC
ii) \(MC = \frac{{\Delta TC}}{{\Delta Q}}\)
iii) ATC = AVC + AFC
iv) \(MC = \frac{{TFC}}{{Q}}\)
1
(i), (iii) and (iv)
2
(ii), (iii) and (iv)
3
(i), (ii) and (iii)
4
(i), (ii) and (iv)
Which of the following is (are) correct?
i) TC = TFC + TVC
ii) \(MC = \frac{{\Delta TC}}{{\Delta Q}}\)
iii) ATC = AVC + AFC
iv) \(MC = \frac{{TFC}}{{Q}}\)