Which of the following is true of the average fixed cost for a firm?
A) The average fixed cost initially rises but then falls as output expands.
B) The average fixed cost is equal to total fixed cost divided by total output.
C) The average fixed cost remains constant as output expands.
D) The average fixed cost is the same as the variable cost when no output is produced.
Correct Answer:
Verified
Q27: In the short run, the supply of
Q28: A firm is said to be cost
Q29: The shape of the short-run average cost
Q30: A firm that experiences constant returns to
Q31: When is a firm's short-run average total
Q33: When a firm experiences decreasing returns to
Q34: The average ?xed cost curve is _.
A)
Q35: The degree to which a firm's output
Q36: If the price of steel, a primary
Q37: A firm should shut down in the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents