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Using the image below, explain why average total cost must be rising if marginal cost is above average total cost. Costs $3.00 2.50 2.00 150
- Using the image below, explain why average total cost must be rising if marginal cost is above average total cost.
Costs $3.00 2.50 2.00 150 1.50 100 1.00 0.50 MC ATC AVC AFC 2 4 6 8 10 12 14 Quantity of Output
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Answer When marginal cost MC is above average total cost ATC it means each additional unit of output ...
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Elementary Statistics
Authors: Neil A. Weiss
8th Edition
321691237, 978-0321691231
