Average cost of producing 70 pies in batches of ten is 5.00, Ask an Expert

Economics

Q. Average cost of producing 70 pies in batches of ten is $5.00 per pie and the average cost of producing 80 pies in batches of ten is $4.50 per pie. Elucidate the marginal cost of the 8th batch of pies?

Q2. Initially, suppose all retailers sell the basic version of Vista for $200. Suppose Circuit City were to raise the price at which it sells Vista to $300, but the rest of the retailers were to keep their prices the same. Which of the following would happen?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9225284

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