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To answer, refer to the following: At Huffy's ... bicycle factory, 1,700 employees turn out 15,000 bicycles a day. Five years ago, it required 2,200

To answer, refer to the following:

"At Huffy's ... bicycle factory, 1,700 employees turn out 15,000 bicycles a day. Five years ago, it required 2,200 workers to make 10,000 bikes daily."

Holding all else equal, we can conclude that, over the past 5 years,

Multiple Choice

  • Huffy's average variable cost decreased.
  • Huffy's average variable cost increased.
  • Huffy's marginal cost decreased.
  • Huffy's marginal cost increased.
  • both "Huffy's average variable cost decreased" and "Huffy's marginal cost decreased".

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