Refer to Figure 11-4. What happens to the average fixed cost of production when the firm increases output from 150 to 200?
A) It could rise or fall depending on what happens to total cost.
B) It rises.
C) It falls.
D) It remains constant.
C
You might also like to view...
The quantity of goods and services that can be produced by one worker or by one hour of work is known as
A) per-capita GDP. B) labor productivity. C) real domestic output. D) the labor force participation rate.
Why do economists show little interest in how the benefits from an exchange are shared between the two parties?
During rush hours, long lines of traffic clog the only bridge to town. This bridge is an example of
a. market inefficiency b. obligatory controls c. a decreasing externality cost d. a pure public good e. a near public good
The primary source of funds for finance companies is ________
A) commercial paper B) deposits C) securities D) the central bank