marginal revenue 1. Questions and Problems 6 average variable cost Average total cost is equal to the sum of average variable cost and average fixed cost. average fixed cost As output increases, average fixed cost ; therefore, as output increases, makes up a larger portion average total cost. It follows that the average total cost curve and average variable cost curve would each other a output increases.

marginal revenue 1. Questions and Problems 6 average variable cost Average total cost is equal to the sum of average variable cost and average fixed cost. average fixed cost As output increases, average fixed cost ; therefore, as output increases, makes up a larger portion average total cost. It follows that the average total cost curve and average variable cost curve would each other a output increases.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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