How does the average fixed cost curve behave? a. It declines as long as it is below marginal cost. b. It declines as long as it is above marginal cost. c. It always declines with increased levels of output. d. It always rises with increased levels of output.
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Step 1: The average fixed cost curve represents the fixed cost per unit of output, calculated by dividing total fixed cost by the quantity of output. Show more…
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