Question

Consider the following scenario to understand the relationship between marginal and average values.

Suppose Tim is a professional basketball player, and his game log for free throws can be summarized in the t that follows. Fill in the columns to show Tim's free-throw percentage for each game and his overall free-thron average.

Game	Game Result	Total	Game  Free-Throw Percentage	Average Free-Throw Percentage
1	3//3	3//3	100	100
2	3//5	6//8	60	75
3	2//8	8//16	25	50
4	2//4	10//20	50	50
5	5//5	15//25	100	60

Plot the results for each game and Tim's overall average free-throw percentage after each game on the following graph. Use the green points (triangle symbol) to plot Tim's overall average, and use the orange points (square symbol) to plot his result for each game. Line segments will automatically connect the points. Remember to plot left to right.

You can think of the result in any one game as being Tim's "marginal free-throw percentage." Based on your previous answer, you can deduce that when Tim's marginal free-throw percentage is above the average, the average must be

You can now apply this analysis to production costs. When the marginal cost curve is below the average total cost curve, the average total cost must be _______ .When the marginal cost curve is above the average total cost curve, the average total cost must be _______ .Therefore, for a U-shaped average total cost curve, the marginal cost curve intersects the average total cost curve

Answer 1

ganne 3 3/ 3 10O 3/s 2 18 2/4 6/8 .3 4 7ISs /2s 60 re os go 60 20 must ha