Unformatted text preview: slope is at a minimum) occurs at the output level ____4 ______. 7. The slope of the TVC function at 7 units of output is (greater / smaller) than 4. Smaller 8. AVC is decreasing at all levels of output less than ____7 ______. 9. At the level of output at which ATC has its minimum, TC is greater than $ 40 , but less than $ 64 . (The estimated range of TC should not exceed $24.) 10. ATC, AVC, and MC are all increasing functions at output levels greater than __8 ___....
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- Fall '09
- Binary relation, Cost curve, Monotonic function