Difference between average cost and total fixed costs
What are the difference between average cost and total fixed cost?
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Average fixed cost is acquired by dividing total fixed cost through total output. Therefore, total fixed cost curve and average fixed cost curve are demonstrated below here:
By the above graph this is clear that the total fixed cost curve is horizontal to OX axis. Conversely, the average fixed cost curve slopes by left to right. It implies as that the output raises, the average fixed cost falls.
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When the wage rate price of $13, in that case this firm would hire slightly fewer than: (i) 600 workers. (ii) 700 workers. (iii) 800 workers. (iv) 900 workers (v) 1000 workers. Discover Q & A Leading Solution Library Avail More Than 1421916 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1931116 Asked 3,689 Active Tutors 1421916 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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