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Average fixed cost (a) is greater at lower levels of output than at higher levels
Average fixed cost
(a) is greater at lower levels of output than at higher levels.
(b) does not change as output changes.
(c) exists only in the short run.
(d) is usually greater at higher levels of output than at lower levels of output.
(e) a and c.
Expert Solution
The answer is (a).
Average fixed cost decreases with production, therefore is higher when production level is low and lower at higher level of production.
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