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Explain AFC with a diagram.

Asked by Topperlearning User 25th April 2016, 1:04 PM
Answered by 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 Expert 25th April 2016, 3:04 PM
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