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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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