Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. (?) FREE-THROW PERCENTAGE 100 90 80 70 60 50 40 30 20 10 0 0 2 GAME 3 5 -O- Game Free-Throw Percentage Average Free-Throw Percentage You can think of the result in any one game as being Sam's marginal free-throw percentage. Based on your previous answer, you can deduce that when Sam's marginal free-throw percentage is above the average, the average must be You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average tota cost curve, the average total cost must be . Also, when the marginal cost curve is above the average total cost curve, the average total ▼. Therefore, the marginal cost curve intersects the average total cost curve cost must be
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. (?) FREE-THROW PERCENTAGE 100 90 80 70 60 50 40 30 20 10 0 0 2 GAME 3 5 -O- Game Free-Throw Percentage Average Free-Throw Percentage You can think of the result in any one game as being Sam's marginal free-throw percentage. Based on your previous answer, you can deduce that when Sam's marginal free-throw percentage is above the average, the average must be You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average tota cost curve, the average total cost must be . Also, when the marginal cost curve is above the average total cost curve, the average total ▼. Therefore, the marginal cost curve intersects the average total cost curve cost must be
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter2: Some Tools Of The Economist
Section: Chapter Questions
Problem 2CQ
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