Answer to Question #75798 in Microeconomics for bryan

Question #75798
The vertical distance between the total cost and the total variable cost curves:
a) Decreases as output increases.
b) Increases as output increases.
c) Is equal to average fixed cost.
d) Is equal to total fixed cost.
1
Expert's answer
2018-04-12T09:42:12-0400
The vertical distance between the total cost and the total variable cost curves is equal to total fixed cost.
This is because ATC = AFC + AVC. Therefore, AFC = ATC – AVC.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS