CBSE Class 12-commerce Answered
Explain AFC with a diagram.
Asked by Topperlearning User | 25 Apr, 2016, 01:04: PM
Expert Answer
Average fixed cost curve slopes downward to the right. It shows that AFC decreases as output increases. It is a rectangular hyperbola curve. It means that the product of AFC and output is equal to TFC which remains constant at all levels of output.
TFC = AFC * Q
Answered by | 25 Apr, 2016, 03:04: PM
CBSE 12-commerce - Microeconomics
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ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 01:04: PM
ANSWERED BY EXPERT
