Determining the average total costs rising or falling

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If marginal cost is less than average total cost, are average total costs rising or falling? Alternatively, if marginal cost is more than average total cost, are average total costs rising or falling? Explain how this example might apply to a basketball player attempting to achieve a high average points per game.

Fracking is the process by which oil is extracted from underground using a high-pressure water mixture. This procedure probably causes earthquakes as a result of the wastewater that is injected back underground. As a result, several cities and states have banned fracking operations, while others have proposed regulations on how fracking should be conducted.

How do new regulations affect the costs of doing business? Do regulations represent a fixed or variable cost, or can they be both? Explain

Reference no: EM132478893

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