Refer to the graph. For a certain output range (or quantity of pizzas produced per day), marginal cost is greater than average cost. What is this output range? $26- $24- Q $22- OA. Exactly 640 pizzas per day $20- G OB. The output range greater than about 525 pizzas per day OC. The entire output range, from 0 to about 640 pizzas per day OD. From 0 to about 525 pizzas per day When marginal cost is less than average total cost, average total cost must be OA. negative. OB. constant. OC. increasing. OD. decreasing. Cost (dollars per pizza) $18- $16- $14- $12- $10- Curve 2 $8- $6- Curve 1 $4 $2 $0+ 0 100 200 300 400 500 600 700 Quantity (pizzas per day)

Refer to the graph. For a certain output range (or quantity of pizzas produced per day), marginal cost is greater than average cost. What is this output range? $26- $24- Q $22- OA. Exactly 640 pizzas per day $20- G OB. The output range greater than about 525 pizzas per day OC. The entire output range, from 0 to about 640 pizzas per day OD. From 0 to about 525 pizzas per day When marginal cost is less than average total cost, average total cost must be OA. negative. OB. constant. OC. increasing. OD. decreasing. Cost (dollars per pizza) $18- $16- $14- $12- $10- Curve 2 $8- $6- Curve 1 $4 $2 $0+ 0 100 200 300 400 500 600 700 Quantity (pizzas per day)

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 3CQQ

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