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The question is in the picture- it has multiple parts. Thank you 3. The relationship between marginal and average costs Consider the following scenario to

The question is in the picture- it has multiple parts. Thank you

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3. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Lucia is a professional basketball player, and her game log for free throws can be summarized in the following table. Fill in the columns with Lucia's free-throw percentage for each game and her overall freethrow average after each game. Game Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage 1 3/3 3/3 100 100 2 3/5 6/8 3 2/8 8/16 4 2/4 10/20 5 5/5 15/25 0n the following graph, use the orange points (square symbol) to plot Lucia's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot her overall average free-throw percentage after each game. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 100 -.- 80 Game Free-Throw Percentage 70 * 60 Average Free-Throw Percentage 50 40 30 FREE-THROW PERCENTAGE 20 10 GAME You can think of the result in any one game as being Lucia's marginal free-throw percentage. Based on your previous answer, you can deduce that when Lucia's marginal free-throw percentage is below the average, the average must be v . You can now apply this analysis to production costs. For a U-shaped average total cost (ATC) curve, when the marginal cost curve is below the average total cost curve, the average total cost must be V . Also, when the marginal cost curve is above the average total cost curve, the average total cost must be V . Therefore, the marginal cost curve intersects the average total cost curve V

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