Which cost of production falls continuously as output increases?
A.
average fixed cost
B.
average total cost
C.
average variable cost
D.
total variable cost
Exam No：0455_s21_qp_12 Year：2021 Question No：12
Answer:
A
Knowledge points:
3.7.1 definition of costs of production:Total cost (TC), average total cost (ATC), fixed cost (FC), variable cost (VC), average fixed cost (AFC), average variable cost (AVC).
Solution:
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