Refer to the figure above, what happens to the average fixed cost of production when the firm decreases output from 200 to 150? It falls. It could rise or fall depending on what happens to total revenue. It remains constant. It rises.
Refer to the figure above, what happens to the average fixed cost of production when the firm decreases output from 200 to 150? It falls. It could rise or fall depending on what happens to total revenue. It remains constant. It rises.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 9SQP
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