A firm's average fixed cost curve is:
a. U-shaped
b. a curve that increases as output expands.
c. a vertical line.
d. a curve that declines as output expands and approaches the X-axis when output is very large.
d
You might also like to view...
Without changes in MC to maximize profits, the firm will produce at point ________ on the new demand curve and lower price to ________
A) E1; P1 B) E0; P0 C) E2; P2 D) E0 or E1; P0
Which of the following statements best describes balanced budget amendments?
a. A balanced budget amendment allows small, temporary deficits that might, in some cases, be necessary. b. A balanced budget amendment prevents even small, temporary deficits that might, in some cases, be necessary. c. A balanced budget amendment allows large, temporary deficits that might, in some cases, be necessary. d. A balanced budget amendment prevents large, temporary deficits that might, in some cases, be necessary.