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Tags
#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Both ATC and AVC take on a bowl-shaped pattern in which each curve initially declines, reaches [...] and then increases.
When output increases, average fixed cost [...]
When output increases, average fixed cost [...]
Answer
a minimum-cost output level,
declines as AFC approaches the horizontal quantity axis.
declines as AFC approaches the horizontal quantity axis.
Tags
#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Both ATC and AVC take on a bowl-shaped pattern in which each curve initially declines, reaches [...] and then increases.
When output increases, average fixed cost [...]
When output increases, average fixed cost [...]
Answer
?
Tags
#cfa-level-1 #economics #has-images #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-3-analysis-of-revenue-costs-and-profit #study-session-4
Question
Both ATC and AVC take on a bowl-shaped pattern in which each curve initially declines, reaches [...] and then increases.
When output increases, average fixed cost [...]
When output increases, average fixed cost [...]
Answer
a minimum-cost output level,
declines as AFC approaches the horizontal quantity axis.
declines as AFC approaches the horizontal quantity axis.
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Open it
This shows the cost curve relationships among ATC, AVC, and AFC in the short run. The difference between ATC and AVC at any output quantity is exactly equal to the amount of AFC. Both ATC and AVC take on a bowl-shaped pattern in which each curv
Open it
This shows the cost curve relationships among ATC, AVC, and AFC in the short run. The difference between ATC and AVC at any output quantity is exactly equal to the amount of AFC. Both ATC and AVC take on a bowl-shaped pattern in which each curv
Summary
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Details
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