The happiness which forms the utilitarian standard of what is right in conduct, is not...(one's) own happiness, but that of all concerned. As between his own happiness and that of others, utilitarianism requires him to be as strictly impartial as a disinterested and benevolent spectator.
There are various types of cost curves, all related to each other, including total and average cost curves, and marginal (for each additional unit) cost curves, which are equal to the differential of the total cost curves. At a level of Q at which the MC curve is above the average total cost or average variable cost curve, the latter curve is rising. 2  If MC is below average total cost or average variable cost, then the latter curve is falling.
The total cost curve graphically represents the relation between total cost and the quantity of production. This curve can be derived in two ways. One is to plot a schedule of numbers relating output quantity and total cost. The other is to vertically add the total variable cost curve and the total fixed cost curve.