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Questions and Answers
What is the vertical distance between the average total cost curve and the average fixed cost curve equivalent to?
total variable cost
As output increases, what happens to the vertical distance between the average total cost curve and the average fixed cost curve?
it does not change
What is NOT a characteristic of the vertical distance between the average total cost curve and the average fixed cost curve?
it is increasing as output increases
Which of the following is a true statement about the vertical distance between the average total cost curve and the average fixed cost curve?
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What can be said about the slope of the average total cost curve and the average fixed cost curve?
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