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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305156050
BuyFind

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781305156050

Solutions

Chapter
Section
Chapter 13, Problem 4CQQ
Textbook Problem

A firm is producing 20 units with an average total cost of $25 and a marginal cost of $15. If it were to increase production to 21 units, which of the following must occur?

a. Marginal cost would decrease.

b. Marginal cost would increase.

c. Average total cost would decrease.

d. Average total cost would increase.

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