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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

Why does the AFC curve continually decline (and get closer and closer to the quantity axis)?

To determine

Why the average fixed cost (AFC) continuously declines.

Explanation

If the output increases, then the average fixed cost (AFC) will continuously decline and will be closer to the quantity axis. The formula to calculate the average fixed cost (AFC) is AFC

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