Shapes of LRAC and LRMC Curves
Trending Questions
Q. The shape of the average fixed cost curve is ______________.
- U-shaped
- rectangular hyperbola
- L-shaped
- parallel to X axis
Q. As the production increases beyond a point, the vertical distance between the average total cost curve and the average variable cost curve generally ________________.
- diminishes
- increases
- can't be determined
- remains constant
