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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 16
A firm is producing 20 units with an average total cost of $25 and marginal cost of $15. If it were to increase production to 21 units, which of the following must occur?
A) Marginal cost would decrease.
B) Marginal cost would increase.
C) Average total cost would decrease.
D) Average total cost would increase.
A) Marginal cost would decrease.
B) Marginal cost would increase.
C) Average total cost would decrease.
D) Average total cost would increase.
Explanation
Verified
Verified
Average total cost can be calculated by ...
Essentials of Economics 7th Edition by Gregory Mankiw
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