When Peter's Pizza Company produces 50 pizzas, its average total cost is $8 . The marginal cost of the 51st pizza is $7 . If the firm chooses to produce the 51st pizza, what will happen to average total cost? Explain
What will be an ideal response?
If the firm decides to produce the 51st pizza, its average total cost will fall because the marginal cost is lower than the average total cost.
Economics
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In the loanable funds market, what variable changes to eliminate a shortage of loanable funds and how is the shortage eliminated?
What will be an ideal response?
Economics
The Federal Reserve Board of Governors consists of
a. 50 members selected by state legislatures b. 12 members, one from each Federal Reserve District c. 12 members nominated by the President and confirmed by the Senate d. seven members elected by Congress e. seven members nominated by the President and confirmed by the Senate
Economics