On the following graph, use the orange points (square symbol) to plot Bob's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot his overall 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. FREE-THROW PERCENTAGE 100 90 80 60 50 40 30 20 10 0 + 0 2 GAME 3 5 -0 Game Free-Throw Percentage Average Free-Throw Percentage You can think of the result in any one game as being Bob's marginal free-throw percentage. Based on your previous answer, you can deduce that when Bob's marginal free-throw percentage is above the average, the average must be You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average total cost curve, the average total cost must be . Also, when the marginal cost curve is above the average total cost curve, the average total ▼. Therefore, the marginal cost curve intersects the average total cost curve cost must be
On the following graph, use the orange points (square symbol) to plot Bob's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot his overall 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. FREE-THROW PERCENTAGE 100 90 80 60 50 40 30 20 10 0 + 0 2 GAME 3 5 -0 Game Free-Throw Percentage Average Free-Throw Percentage You can think of the result in any one game as being Bob's marginal free-throw percentage. Based on your previous answer, you can deduce that when Bob's marginal free-throw percentage is above the average, the average must be You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average total cost curve, the average total cost must be . Also, when the marginal cost curve is above the average total cost curve, the average total ▼. Therefore, the marginal cost curve intersects the average total cost curve cost must be
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![On the following graph, use the orange points (square symbol) to plot Bob's free-throw percentage for each game individually, and use the green
points (triangle symbol) to plot his overall 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.
?
FREE-THROW PERCENTAGE
100
90
80
70
60
40
30
20
10
0
0
2
GAME
.
5
Game Free-Throw Percentage
Average Free-Throw Percentage
You can think of the result in any one game as being Bob's marginal free-throw percentage. Based on your previous answer, you can deduce that
when Bob's marginal free-throw percentage is above the average, the average must be
You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average total
cost curve, the average total cost must be
. Also, when the marginal cost curve is above the average total cost curve, the average total
Therefore, the marginal cost curve intersects the average total cost curve
cost must be](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4e176981-f1d1-4aa6-a957-5d7ab7bf11e5%2F01e10c24-71c4-4ee1-a515-087c54134b15%2Fvpunnp_processed.png&w=3840&q=75)
Transcribed Image Text:On the following graph, use the orange points (square symbol) to plot Bob's free-throw percentage for each game individually, and use the green
points (triangle symbol) to plot his overall 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.
?
FREE-THROW PERCENTAGE
100
90
80
70
60
40
30
20
10
0
0
2
GAME
.
5
Game Free-Throw Percentage
Average Free-Throw Percentage
You can think of the result in any one game as being Bob's marginal free-throw percentage. Based on your previous answer, you can deduce that
when Bob's marginal free-throw percentage is above the average, the average must be
You can now apply this analysis to production costs. For a U-shaped average total cost curve, when the marginal cost curve is below the average total
cost curve, the average total cost must be
. Also, when the marginal cost curve is above the average total cost curve, the average total
Therefore, the marginal cost curve intersects the average total cost curve
cost must be
![Fill in the columns with Bob's free-throw percentage for each game and his overall free-throw average after each game.
Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage
80
8/10
12/20
Game
1
2
3
st
4
5
8/10
4/10
2/8
2/4
6/8
14/28
16/32
22/40
80](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4e176981-f1d1-4aa6-a957-5d7ab7bf11e5%2F01e10c24-71c4-4ee1-a515-087c54134b15%2F341ye6_processed.png&w=3840&q=75)
Transcribed Image Text:Fill in the columns with Bob's free-throw percentage for each game and his overall free-throw average after each game.
Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage
80
8/10
12/20
Game
1
2
3
st
4
5
8/10
4/10
2/8
2/4
6/8
14/28
16/32
22/40
80
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