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April 20, 2014

Homework Help: economics

Posted by gopak on Friday, November 18, 2011 at 1:12am.

# You produce shoes. Currently you produce 4 pairs of shoes at a total cost of %40.
a)what is your average total cost (ATC)
b)Suppose you could produce one more( fifth)pair at a marginal cost of $20. If you do produce that fifth pair of shoe, what will your average total cost be?Has your average total cost increased or decrease d?why?
c)suppose instead that you could produce one more(the fifth) a pair at a marginal cost of $20. If you do produce that fifth pair ofshoe, what will your average total cost be?Has your average total cost increases or decreases?Why?

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