The National Football League has long-term leases with the stadiums in major cities. Control of these stadiums is an entry barrier to a potential new football league.
Indicate whether the statement is true or false
Question 2
If the 15th unit of output has a marginal cost of 29.50 and the average cost of producing 14 units of output is 30.23, what will happen to the average cost of production if the 15th unit is produced?
A) Average cost will fall.
B) Average cost could increase or decrease depending on what happens to fixed cost.
C) Average cost increases as more is produced.
D) Average cost could increase or decrease depending on what happens to variable cost.
