If the ATC of the 20th unit is $35, then: A) the MC is increasing between 10 and 20 units; B) the ATC is falling between 20 and 30 units; C) the MC is falling between 20 and 30 units; D) the AVC is falling between 20 and 30 units; E) the ATC is rising between 20 and 30 units.

If the ATC of the 20th unit is $35, then: A) the MC is increasing between 10 and 20 units; B) the ATC is falling between 20 and 30 units; C) the MC is falling between 20 and 30 units; D) the AVC is falling between 20 and 30 units; E) the ATC is rising between 20 and 30 units.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If the ATC of the 20th unit is $35, then:

A) the MC is increasing between 10 and 20 units;
B) the ATC is falling between 20 and 30 units;
C) the MC is falling between 20 and 30 units;
D) the AVC is falling between 20 and 30 units;
E) the ATC is rising between 20 and 30 units.

Table: Variable Costs for Lawns
Quantity of lawns
Variable costs
$0
10
100
20
300
30
500
40
1,100
50
1,800

Definition Definition Total cost of producing a certain quantity of a good, divided by the quantity produced. It is the sum of all costs (fixed and variable) required to produce one unit of output.

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