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tuggy tuggy
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7 years ago
Consider the following two scenarios:
i)   The marginal product of a worker in a firm is 10 units. When an additional worker is employed, his marginal product is less than 10 units.
ii)   The average total cost of a firm producing 10 units of output is $200. When it produces an additional unit, the average total cost increases to $300.
What is the difference between these scenarios? What could be the reason behind both phenomena occurring? Does specialization explain any of the above situations?
Textbook 
Microeconomics

Microeconomics


Edition: 1st
Authors:
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losteinlostein
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7 years ago
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tuggy Author
wrote...

7 years ago
Smart ... Thanks!
carston
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Yesterday
Thank you, thank you, thank you!
riptide
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2 hours ago
You make an excellent tutor!
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