If I know the variable cost schedule, I can derive the marginal cost schedule with no further information.

Question

Quizplus · Accepted Answer

This is true. Marginal cost is simply the change in total cost resulting from producing one additional unit of output. Therefore, by knowing the variable cost schedule (which shows how much total variable cost changes as output changes), one can calculate the change in total variable cost for each additional unit of output produced, and thus derive the corresponding marginal cost schedule.

If I Know the Variable Cost Schedule, I Can Derive