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Q. |
Which of the following cost curve is never `U' shaped ? |
A. | Marginal cost curve |
B. | Average variable cost curve |
C. | Average fixed cost curve |
D. | Average cost curve |
Answer» C. Average fixed cost curve | |
Explanation: Average fixed cost curve is never 'U' shaped. Since total fixed costs are unchanged as output rises, the average fixed cost curve falls continuously as output is increased. |
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