The firm's average cost curve is the result of cost minimization in the use of fixed inputs.
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Q40: A rise in the price of an
Q41: The average total cost curve of a
Q42: If significant economies of scale are present,
Q43: Marginal fixed costs decrease as output increases.
Q44: The marginal cost curve shows the per-unit
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
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