   Chapter 11.2, Problem 41E Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203

Solutions

Chapter
Section Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203
Textbook Problem

If the average cost to manufacture one grand piano increases as the production level increases, which is greater, the marginal cost or the average cost?

To determine

Greater among marginal cost and average cost such that the average cost of manufacturing 1 piano increases as the production level increases.

Explanation

Given Information:

The average cost of manufacturing 1 piano increases as the production level increases.

The average cost of the first x items is the ratio of total cost and the number of units produced.

So, average cost =C(x)x

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