Explain the relationship between average fixed cost and marginal cost.
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Q28: Economic cost is always less than accounting
Q29: Diminishing marginal returns implies that
A) marginal costs
Q30: Diminishing marginal returns implies that
A) marginal product
Q31: Which of the following is NOT true
Q32: What is the explicit and implicit cost?
Q34: What are the differences between economic cost
Q35: The interest on a business loan is
Q36: In the short run, at least one
Q37: Economic profit is total revenue less economic
Q38: A firm experiences diminishing marginal returns because
A)
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