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Shapes of Total Cost Curves in the Short Run

Average Fixed...

Question

Average Fixed Cost
I. never becomes zero
II. never touches y-axis
III. never touches x-axis

A

I and II are correct

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B

II and III are correct

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C

I and III are correct

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D

All are correct

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Solution

The correct option is A All are correct
The AFC curve is asymptotic to to both the x and y axis The average fixed cost can never be 0 since fixed cost is positive. It slopes downwards throughout its length from left to right showing continuous fall in average fixed cost with an increase in output.

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Shapes of Total Cost Curves in the Short Run

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