Average fixed cost
A) is a horizontal line.
B) increases steadily as output increases.
C) decreases steadily as output increases.
D) exhibits diminishing returns.
Correct Answer:
Verified
Q23: The total fixed cost function
A)is horizontal.
B)is U-shaped.
C)is
Q24: The long-run total cost of zero output
Q25: MC equals
A)ΔTC/ΔQ.
B)ΔVC/ΔQ.
C)FC/Q.
D)VC/Q.
Q26: Producing an additional unit whose marginal cost
Q27: The slope of a ray from the
Q29: When marginal cost is greater than average
Q30: The AFC curve
A)always slopes downward.
B)is U-shaped.
C)is a
Q31: The MC curve slopes upward due to
A)increasing
Q32: If the total variable cost curve is
Q33: Marginal cost is defined as
A)the rate at
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