If a firm produces nothing, it still incurs its fixed costs.
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Q33: The average-total-cost curve is unaffected by diminishing
Q34: The graph of the production function plots
Q35: Average variable cost is equal to total
Q36: Variable costs equal fixed costs when nothing
Q37: Diminishing marginal product exists when the production
Q39: The average-fixed-cost curve is constant.
Q40: The typical total-cost curve is U-shaped.
Q41: The marginal-cost curve intersects the average-fixed-cost curve
Q42: The marginal-cost curve intersects the average-total-cost curve
Q43: Assume Jack received all As in his
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