A firm is currently producing 100 units with an average total cost of $44 and a marginal cost of $32. If it were to increase production to 101 units, which of the following must be true?

Average total cost would decrease.

A firm is currently producing 100 units with an average total cos...

0. Basic Principles of Economics1h 5m

1. Reading and Understanding Graphs59m

2. Introductory Economic Models1h 10m

3. The Market Forces of Supply and Demand2h 26m

4. Elasticity2h 16m

5. Consumer and Producer Surplus; Price Ceilings and Floors3h 45m

6. Introduction to Taxes and Subsidies1h 46m

7. Externalities1h 12m

8. The Types of Goods1h 13m

9. International Trade1h 16m

10. The Costs of Production2h 35m

11. Perfect Competition2h 23m

12. Monopoly2h 13m

13. Monopolistic Competition1h 9m

14. Oligopoly1h 26m

15. Markets for the Factors of Production1h 33m

16. Income Inequality and Poverty35m

17. Asymmetric Information, Voting, and Public Choice39m

18. Consumer Choice and Behavioral Economics1h 16m