44)How does the average-fixed-cost curve behave?  A. It declines as long as it is above marginal cost.  B. It always declines with increased levels of output.  C. It declines as long as it is below marginal cost  D. It always rises with increased levels of output.

Q: 1. Show and explain the relationship between total cost, marginal cost and average variable cost

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Explicit and Implicit Cost Analysis

The entire idea of the cost of production or production cost is applied corresponding or we can say that it is related to money cost. Money cost refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factors of production or factor services.