Use the following to answer question:
-(Figure: A Firm's Cost Curves)Use Figure: A Firm's Cost Curves.The curve labeled W represents the firm's _____ cost curve.
A)average fixed
B)average total
C)average variable
D)total variable

Question

Use the following to answer question: 
-(Figure: A Firm's Cost Curves)Use Figure: A Firm's Cost Curves.The curve labeled W represents the firm's _____ cost curve.
A)average fixed 
B)average total 
C)average variable 
D)total variable

Quizplus · Accepted Answer

The curve labeled W represents the firm's average total cost curve, which typically U-shapes due to economies and diseconomies of scale, encompassing both variable and fixed costs per unit of output.

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