Cost £ AC Q Quantity per week Figure 3 Short run average cost curve for a firm Figure 3 shows the short run average cost curve of a firm. Which one of the following options is not true? Select one: O Average cost = average fixed cost + average variable cost O Average cost are at a minimum when output is Q O At output greater than Q, the firm has diminishing returns to variable factors O As output increases average fixed cost falls

Cost £ AC Q Quantity per week Figure 3 Short run average cost curve for a firm Figure 3 shows the short run average cost curve of a firm. Which one of the following options is not true? Select one: O Average cost = average fixed cost + average variable cost O Average cost are at a minimum when output is Q O At output greater than Q, the firm has diminishing returns to variable factors O As output increases average fixed cost falls

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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