3. The relationship between marginal and average costs Consider the following scenario to understand the relationship between marginal and average values. Suppose Dina is a professional basketball player, and her game log for free throws can be summarized in the following table. Fill in the columns with Dina's free-throw percentage for each game and her overall free-throw average after each game. Game Total Game Result 4/5 2/5 Game Free-Throw Percentage Average Free-Throw Percentage 80 90 1 4/5 2 1/4 6/10 7/14 8/16 12/20 4 1/2 5 On the following prach, use the orange points (uerembo toploto re-throw percentage for each came individual and use the green Doints (triangle symbol) to plot her overall average re-throw Decor each we BI e 9 earch O 9:22 PM Homework(Ch 13) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 100 00 0 80 Game Free-Throw Percentage 70 60 Average Free-Throw Percentage 50 FREE-THROW PERCENTAGE 40 30 20 10 GAME earch o a e 40 FREE-THRO 30 20 10 0 0 1 GAME You can think of the result in any one game as being Dina's marginal free-throw percentage. Based on your previous answer, you can deduce that when Dina's marginal free-throw percentage is above the average, the average must be You can now apply this analysis to production costs. For a Ushaped average total cost (ATC) curve, when the marginal cost curve is below the average total cost curve, the average total cost must be Also, when the marginal cost curve is above the average total cost curve, the average total cost must be Therefore, the marginal cost curve Intersecti the average total cost curve Grade it Now Save & Continue Continue without saving o RE PM 1/26/2018 -ch