Average fixed cost is equal to
A) the amount of total cost that does not change as output changes in the short run.
B) fixed cost divided by the quantity of output produced.
C) fixed cost multiplied by the quantity of output produced.
D) average total cost plus average variable cost.
Answer: B
Economics
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____________are generally associated with labor and raw materials.
Fill in the blank(s) with the appropriate word(s).
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What type of policy does the government adopt in dealing with government-inhibited goods?
A) It subsidizes their consumption. B) It subsidizes their production. C) It provides them as public goods. D) It taxes, regulates, or prohibits their use.
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