Jill Johnson says the following: "I am currently producing 10,000 pizzas per month at a total cost of $70,000. If I produce 10,001 pizzas, my total cost will rise to $70,040. Therefore, my marginal cost of producing pizzas must be increasing." 1.) Using the point drawing tool, indicate the point of marginal cost. Label this point "Marginal cost'. 2.) Using the point drawing tool, indicate the point of average total cost. Label this point 'Average total cost'. Carefully follow the instructions above, and only draw the required objects. Question Viewer Costs(dollars per pizza) MC Quantity (pizzas per month) AT 1/ 1/ (1

Jill Johnson says the following: "I am currently producing 10,000 pizzas per month at a total cost of $70,000. If I produce 10,001 pizzas, my total cost will rise to $70,040. Therefore, my marginal cost of producing pizzas must be increasing." 1.) Using the point drawing tool, indicate the point of marginal cost. Label this point "Marginal cost'. 2.) Using the point drawing tool, indicate the point of average total cost. Label this point 'Average total cost'. Carefully follow the instructions above, and only draw the required objects. Question Viewer Costs(dollars per pizza) MC Quantity (pizzas per month) AT 1/ 1/ (1

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 15P

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Similar questions

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