Question

a) What is average fixed cost of a firm? Why is an AFC curve a rectangular
hyperbola? Explain with the help of a diagram.
(2)
b) From the TC schedule given below, find TVC, AFC, AVC, AC & MC. It is
given that TFC at 4th level of output is 60.
Output
TC
TFC
1
100
2
136
3
168
4
204
60
5
245​

Answer 1

Answer:

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Explanation:

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