Suppose that a worker can produce 100 units of output in 7 hours. In the 8th hour, he can produce 12 units of output. The worker can produce 112 units of output in 8 hours.
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Q26: If the marginal-cost curve is rising, then
Q27: The average-total-cost curve reflects the shape of
Q28: Marginal costs are costs that do not
Q29: Variable costs usually change as the firm
Q30: For a typical firm, fixed costs increase
Q32: Several related measures of cost can be
Q33: The average-total-cost curve is unaffected by diminishing
Q34: The graph of the production function plots
Q35: Average variable cost is equal to total
Q36: Variable costs equal fixed costs when nothing
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