Output Average Cost ( at that output level) Marginal Cost of that Car 9,999 ? $ 12,000 10,000 $ 14,000 $ 11,500 19,999 $ 12,500 20,000 ? $ 12,600 Will the Average Cost of 20,000 cars be greater than the Average Cost of 19,999 cars, less than the Average Cost of 19,999 cars, or can you not tell with the information given? ( Hint: it might help to draw a graph of AC and MC, and see if you can place units 19,999 and 20,000 on that graph). Greater Than O Less Than Can't Tell with the information given

Output Average Cost ( at that output level) Marginal Cost of that Car 9,999 ? $ 12,000 10,000 $ 14,000 $ 11,500 19,999 $ 12,500 20,000 ? $ 12,600 Will the Average Cost of 20,000 cars be greater than the Average Cost of 19,999 cars, less than the Average Cost of 19,999 cars, or can you not tell with the information given? ( Hint: it might help to draw a graph of AC and MC, and see if you can place units 19,999 and 20,000 on that graph). Greater Than O Less Than Can't Tell with the information given

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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