The spreading of fixed costs over more output explains why the long-run average cost falls as output rises.
Correct Answer:
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Q44: Average fixed cost is
A)the sum of variable
Q45: Variable costs are
A)the same as sunk costs
B)irrelevant
Q46: Which of the following,necessarily,equals zero when the
Q47: Which of the following is an implicit
Q48: Samantha has been working for a law
Q50: A firm's total cost of production is
Q51: Which of the following is irrelevant when
Q52: A corporation has been steadily losing money
Q53: Total fixed costs decrease as output expands.
Q54: A firm's implicit costs are
A)its maintenance costs
B)its
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