Ou can think of the result in any one game as being deborah’s marginal free-throw percentage. based on your previous answer, you can deduce that when deborah’s marginal free-throw percentage is below the average, the average must be . you can now apply this analysis to production costs. for a u-shaped 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 intersects the average total cost curve

Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?