In traditional Economic analysis, Group of answer choices only marginal costs are relevant to current economic decision making. only average costs are relevant to current economic decision making. both marginal and sunk costs are relevant to current economic decision making. only costs that have already been incurred are relevant to current economic decision making.

2. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Latasha is a professional basketball player, and her game log for free throws can be summarized in the following table. Fill in the columns with Latasha'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 3 1/5 15/25 4 3/5 18/30 5 8/10 26/40 On the following graph, use the orange points (square symbol) to plot Latasha'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.

If the variable production cost and the price of a product were both reduced by $1.00 per unit, which of the following would change?   Group of answer choices break-even point in units contribution margin ratio contribution margin per unit total fixed costs

What must be given up to obtain an item is called Group of answer choices a)out-of-pocket cost. b)comparative worth. c)opportunity cost. d)absolute value.