Answer to Question 1
The reason the two curves get closer to each other as output expands has to do with the fact that average fixed costs fall with increases in output. Since the only thing separating average total costs from average variable costs is the average fixed cost it stands to reason that they two curves should become closer with output expansion.
Answer to Question 2
The shortcomings of the free-enterprise system are: products may not always be produced at lowest cost, income may be unevenly distributed, and periods of inflation and unemployment may recur.
Average Global Temperature Rise over the Past Century
Average Normal Blood Pressure Readings
A cutaway view of a typical variable fuel sensor.
Typical Startup Cost Categories Cont.
Cost of Laptops
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur