Average variable cost is equal to total variable cost divided by quantity of output.
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Q30: For a typical firm, fixed costs increase
Q31: Suppose that a worker can produce 100
Q32: Several related measures of cost can be
Q33: The average-total-cost curve is unaffected by diminishing
Q34: The graph of the production function plots
Q36: Variable costs equal fixed costs when nothing
Q37: Diminishing marginal product exists when the production
Q38: If a firm produces nothing, it still
Q39: The average-fixed-cost curve is constant.
Q40: The typical total-cost curve is U-shaped.
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