Refer to the figure on the right. Suppose the output of a large aluminum firm drops from 2 million pounds to 0.5 million pounds per year. The long-run average cost of producing aluminum will go from $ to $. (Enter your responses rounded to the nearest penny.) DE Cost per pound $2.80 2.10 1.60 с b 0.50 1.00 1.50 2.00 2.50 Million of pounds of Aluminum per year

Refer to the figure on the right. Suppose the output of a large aluminum firm drops from 2 million pounds to 0.5 million pounds per year. The long-run average cost of producing aluminum will go from $ to $. (Enter your responses rounded to the nearest penny.) DE Cost per pound $2.80 2.10 1.60 с b 0.50 1.00 1.50 2.00 2.50 Million of pounds of Aluminum per year

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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