A declining average fixed cost reflects [...] over more and more production units.
spreading a constant cost
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Open it Dividing total fixed cost by quantity yields average fixed cost (AFC), which decreases throughout the production span. A declining average fixed cost reflects spreading a constant cost over more and more production units. At high production volumes, AFC may be so low that it is a small proportion of average total cost. In Exhibit 13, AFC declines from 100 at 1 unit, t
last interval [days]
repetition number in this series
scheduled repetition interval
last repetition or drill
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