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Author Question: The table below shows output, marginal cost, and average variable cost for the production of pairs ... (Read 70 times)

mmmmm

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on: Oct 12, 2022
The table below shows output, marginal cost, and average variable cost for the production of pairs of shoes. All costs are in dollars.

OutputMarginal
Cost		Average Variable Cost
5060140
7045115
9035 95
11030 80
13035 65
15060 60
170105 65
190180 75
210230 90
230290110

TABLE 7-6

Refer to Table 7-6. Suppose this firm is producing 210 pairs of shoes per time period and that the variable factor of production is labour. Which of the following statements best describes this firm's production?
◦ Marginal cost is higher than average variable cost, so average product must be rising.
◦ Each additional unit of labour employed reduces the average variable cost of the pairs of shoes.
◦ The firm is producing below its capacity.
◦ Additional units of labour employed will increase the average variable cost of producing shoes.
◦ Marginal cost is higher than average variable cost, so marginal product must be rising.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by mmmmm on Oct 12, 2022

Kevin5!

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mmmmm

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

dreamfighter72

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Reply 3 on: Yesterday
Excellent

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