If the average cost of producing 9 sweaters is $6.50 and the marginal cost of producing...
If the average cost of producing 9 sweaters is $6.50 and the marginal cost of producing the tenth sweater is $6.25 the average cost of producing 10 sweaters will.
(a) be 6.50
(b) be less than 6.50
(c) be more than 6.50
(d) be exactly 6.75
Homework Answers
(b) be less than 6.50
Explanation: When the marginal cost is less than the average cost, the average cost would also fall.
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If the average cost of producing 9 sweaters is $6.50 and the
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