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Author Question: What is the shape of the AFC curve and why does it have this shape? What will be an ideal ... (Read 73 times)

tatyanajohnson

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on: Jun 29, 2018
What is the shape of the AFC curve and why does it have this shape?
 
  What will be an ideal response?

Question 2

When voluntary exchange takes place, only one party gains from the exchange.
 
  Indicate whether the statement is true or false


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Bsand8

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Average fixed cost (AFC) equals total fixed cost divided by total product. As the quantity produced increases, the fixed costs are spread over a larger and larger quantity of output so average fixed cost decreases. So the AFC curve slopes downward as the quantity produced increases.

Answer to Question 2

FALSE


tatyanajohnson

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

strudel15

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Reply 3 on: Yesterday
:D TYSM

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