Chapter 21
How Cost of Production Affects Supply
Class Discussion Questions
1. Draw average and marginal product of labor curves on graph
A. Draw average variable cost and marginal cost curves on
graph B.
In each case explain how the location, direction, and rate of
change of the marginal curves depict the shape of the average curves.
Note that the two graphs are mirror images of each other.
A.
B.
| Answers to Chapter 21 Class Discussion Questions | Table of Contents |
| Go to Chapter 21 Homework Questions | Economics Free Stuff |