3. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Latasha is a professional basketball player, and her game log for free throws can be summarized in the following table. Fill in the columns with Latasha's free-throw percentage for each game and her overall fre-throw average after each game. Game Free-Throw Percentage 80 Average Free-Throw Percentage 80 Game Result 8/10 4/10 2/8 2/4 6/8 Game Total 8/10 12/20 14/28 16/32 22/40 1 2 3 4 On the following graph, use the orange points (square symbol) to plot Latasha's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot her overal 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 Gane Free Tow Percenege 70 Average Fre-Tow Percartage 20 10 GAME FHEE-THROWPENCENTAGE

3. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Latasha is a professional basketball player, and her game log for free throws can be summarized in the following table. Fill in the columns with Latasha's free-throw percentage for each game and her overall fre-throw average after each game. Game Free-Throw Percentage 80 Average Free-Throw Percentage 80 Game Result 8/10 4/10 2/8 2/4 6/8 Game Total 8/10 12/20 14/28 16/32 22/40 1 2 3 4 On the following graph, use the orange points (square symbol) to plot Latasha's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot her overal 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 Gane Free Tow Percenege 70 Average Fre-Tow Percartage 20 10 GAME FHEE-THROWPENCENTAGE

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 19CTQ: Suppose Alphonsos town raises the price of bus tickets from 0.50 to 1 and file price of burgers...

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Suppose Alphonsos town raises the price of bus tickets from 0.50 to 1 and file price of burgers rises from 2 to 4. Why is file opportunity cost of bus tickets unchanged? Suppose Alphonsns weekly spending money increases from 10 to 20. How is his budget constraint affected from all three changes? Explain.
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5. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Kenji is a professional basketball player, and his game log for free throws can be summarized in the following table. Fill in the columns with Kenji's free-throw percentage for each game and his overall free-throw average after each game. Game Result Season Total Game Free-Throw Percentage Average Free-Throw Percentage Game 1 80 2 UAWN 8/10 4/10 2/8 2/4 6/8 8/10 12/20 14/28 16/32 22/40 80
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