The average total cost curve of a firm is U shaped but the average variable cost is not.
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Q46: Economies of scale are also called increasing
Q47: The short-run average cost curve shows the
Q48: Total fixed cost falls as output expands.
Q49: Total variable costs will initially increase and
Q50: Variable cost changes as the time period
Q52: A total cost curve shows the largest
Q53: Cost curves in the long run differ
Q54: The average fixed cost curve increases as
Q55: For most industries, average costs decrease indefinitely
Q56: The average total cost curve is U
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