JAMB Economics 2007 | Average Fixed Cost Explained (Past Question Solved)
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JAMB Economics 2007 | Average Fixed Cost Explained (Past Question Solved)
Can you solve this JAMB 2007 Economics question in seconds? Question: If the total fixed cost remains the same regardless of output, what happens to the average fixed cost? A. Decreasing B. Minimum C. Maximum D. Increasing Correct Answer: A. Decreasing 📚 Formula: Average Fixed Cost (AFC) = Total Fixed Cost (TFC) ÷ Output As output increases ...
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