el, and ier game log for can be Sun the following table. Fill in the columns with Hilary's free-throw percentage for each game and her overall free-throw average after each game. Game Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage 1 8/10 8/10 80 80 6/10 14/20 1/5 15/25 3/5 18/30 8/10 26/40 On the following graph, use the orange points (square symbol) to plot Hilary's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot her overall average free-throw percentage after each game. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Consider the following scenario to understand the relationship between marginal and average values. Suppose Hilary is a professional basketball
player, and her game log for free throws can be summarized in the following table.
Fill in the columns with Hilary's free-throw percentage for each game and her overall free-throw average after each game.
Game
Game Result
Total
Game Free-Throw Percentage
Average Free-Throw Percentage
1
8/10
8/10
80
80
6/10
14/20
1/5
15/25
3/5
18/30
8/10
26/40
On the following graph, use the orange points (square symbol) to plot Hilary's free-throw percentage for each game individually, and use the green
points (triangle symbol) to plot her overall average free-throw percentage after each game.
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
M
m 4 5
Transcribed Image Text:Consider the following scenario to understand the relationship between marginal and average values. Suppose Hilary is a professional basketball player, and her game log for free throws can be summarized in the following table. Fill in the columns with Hilary's free-throw percentage for each game and her overall free-throw average after each game. Game Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage 1 8/10 8/10 80 80 6/10 14/20 1/5 15/25 3/5 18/30 8/10 26/40 On the following graph, use the orange points (square symbol) to plot Hilary's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot her overall average free-throw percentage after each game. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. M m 4 5
ng.cengage.com/static/nb/ui/evo/index.html?deploymentld%3D598281800483229979995799&elSBN=9780357133606&id=D1061547992&snapshotld%3D2200166&
70
60
Average Free-Throw Percentage
50
40
30
10
+
+
+.
+
4
GAME
You can think of the result in any one game as being Hilary's marginal free-throw percentage. Based on your previous answer, you can deduce that
when Hilary's marginal free-throw percentage is below the average, the average must be
You can now apply this analysis to production costs. For a U-shaped average total cost (ATC) curve, when the marginal cost curve is below the
Also, when the marginal cost curve is above the average total cost curve, the
average total cost curve, the average total cost must be
average total cost must be
Therefore, the marginal cost curve intersects the average total cost curve
M
acer
5.
3.
2.
1,
20
FREE-THROW PERCENTAGE
Transcribed Image Text:ng.cengage.com/static/nb/ui/evo/index.html?deploymentld%3D598281800483229979995799&elSBN=9780357133606&id=D1061547992&snapshotld%3D2200166& 70 60 Average Free-Throw Percentage 50 40 30 10 + + +. + 4 GAME You can think of the result in any one game as being Hilary's marginal free-throw percentage. Based on your previous answer, you can deduce that when Hilary's marginal free-throw percentage is below the average, the average must be You can now apply this analysis to production costs. For a U-shaped average total cost (ATC) curve, when the marginal cost curve is below the Also, when the marginal cost curve is above the average total cost curve, the average total cost curve, the average total cost must be average total cost must be Therefore, the marginal cost curve intersects the average total cost curve M acer 5. 3. 2. 1, 20 FREE-THROW PERCENTAGE
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