AFC curve
What does AFC curve appear like? Why does it appear so?
Expert
AFC curve is downward sloping to the right. Since the output rises, the fixed cost gets distributed, that is, AFC downs or falls.
Long-run supply curve of a purely competitive industry: (w) equals the horizontal summation of all firms’ short-run supply curves. (x) reflects equilibrium outputs after entry and exit respond completely to any shifts in demand. (y) declines as
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I have a problem in economics on Basic definition of Production. Please help me in the following question. Production is the process in which: (i) Technology and human knowledge are utilized to apply energy to convert materials to make them more preci
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In addition to price, what are the other determinants that consumers want to buy?
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Explain the term PHP?
Several firms have monopolies over brand name products, although face competition from: (w) international cartels. (x) oligopolistic rivals. (y) producers of close substitutes for their products. (z) intra-firm rivalry. Discover Q & A Leading Solution Library Avail More Than 1430030 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1960877 Asked 3,689 Active Tutors 1430030 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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