How do we calculate average fixed cost and why does average fixed cost fall as output increases?

What will be an ideal response?

Average fixed cost is calculated by dividing total fixed cost by the quantity of output. Because total fixed cost stays the same for all levels of output, as the quantity produced increases, the average fixed cost decreases.

Economics

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In 2009 in the United States, net domestic product at factor cost was $11,091 billion. Additionally, rent was $2,000 billion, profits were $1,000 billion, and interest was $358 billion. Hence wages were

A) $7,733 billion. B) $9,091 billion. C) $10,091 billion. D) $8,091 billion. E) $12,091 billion.

Economics

The principle of subsidiarity is a way to

A) divide power between local governments and unions. B) provide support for industries in decline. C) provide support for industries under pressure from foreign competition. D) divide power between national governments and the EU.

Economics