The average fixed cost curve a. always rises with increased levels of output b. declines as long as it is above marginal cost c. declines as long as it is below marginal cost d. always declines with increased levels of output Give your reasons
The average fixed cost curve a. always rises with increased levels of output b. declines as long as it is above marginal cost c. declines as long as it is below marginal cost d. always declines with increased levels of output Give your reasons
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 33CTQ: Average cost curves (except for avenge fixed cost) tend to be U-shaped, decreasing and then...
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![The average fixed cost curve
a. always rises with increased levels of
output
O b. declines as long as it is above marginal
cost
c. declines as long as it is below marginal
cost
d. always declines with increased levels of
output
Give your reasons](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff691c7a8-9698-422f-89d0-73c022b773f1%2Fdcd5cabe-070d-4195-b628-de9a4fd09b47%2Fdw2wh1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The average fixed cost curve
a. always rises with increased levels of
output
O b. declines as long as it is above marginal
cost
c. declines as long as it is below marginal
cost
d. always declines with increased levels of
output
Give your reasons
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