Exhibit 6-13 Cost curves

In Exhibit 6-13, TFC is shown by the graph labeled:

Name: Exhibit 6-13 Cost curves In Exhibit 6-13, TFC is shown by the graph labeled:
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Question

Exhibit 6-13 Cost curves

In Exhibit 6-13, TFC is shown by the graph labeled:

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TFC (total fixed cost) is the same regardless of the level of output, and is represented by the horizontal line on the graph labeled II. The other graphs (labeled I, III, and IV) represent different levels of variable costs and total costs.

Exhibit 6-13 Cost Curves