Average fixed cost is equal to total fixed costs divided by the level of output.
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Q28: Economies of scale reduce long-run average costs.
Q29: Short-run total cost includes all of the
Q30: Diseconomies of scale increase long-run average costs.
Q31: Total fixed cost is the sum of
Q32: Short-run total cost includes all of the
Q34: Short-run average variable cost is the variable
Q35: Short-run average total cost is equal to
Q36: Short-run average variable cost is equal to
Q37: Economies of scale are technological and organizational
Q38: Diseconomies of scale are technological and organizational
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