What is average total cost (ATC)? Why is that important to a firm?
If you were manager of In and Out Burger, how would you calculate the marginal cost of producing one more burger?
If you were a manager of In and Out Burger, how would you calculate the cost per burger produced? (of the average total cost per burger)?
Why in the short run, does marginal cost rise as more units are produced?
What is the long run...