Q31 As a firm expands its output, its average fixed cost does which of the following?O It declines continuously.O It declines, reaches a minimum, and then begins to rise.O It remains the same regardless of how many units the firm produces.O It increases continuously as the firm expands its production.OIris not included as a cost when the firm computes its short-run profits or lossesGood Muct w e tdAnsrer the question abore br clicking on the correer response

Average Fixed Cost is the total fixed cost per unit of output. AFC = TFC/Q

As a firm expands its output, its average fixed cost does which of the following? O It declines continuously. O It declines, reaches a minimum, and then begins to Tise. O It remains the same regardless of how many units the firm produces. O Ir increases continuously as the firm expands its production. OItris not included as a cost when the firm computes its short-nn profits or losses Good Lot wi Pactr the correer repanse

As a firm expands its output, its average fixed cost does which of the following? O It declines continuously. O It declines, reaches a minimum, and then begins to Tise. O It remains the same regardless of how many units the firm produces. O Ir increases continuously as the firm expands its production. OItris not included as a cost when the firm computes its short-nn profits or losses Good Lot wi Pactr the correer repanse

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

Q31

As a firm expands its output, its average fixed cost does which of the following?
O It declines continuously.
O It declines, reaches a minimum, and then begins to rise.
O It remains the same regardless of how many units the firm produces.
O It increases continuously as the firm expands its production.
OIris not included as a cost when the firm computes its short-run profits or losses
Good Muct w e td
Ansrer the question abore br clicking on the correer response

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