Unformatted text preview: 1). The average fixed costs never increase with output. 2). The average total costs are always greater than or equal to the average variable costs. 3). Average cost can never rise while marginal costs are declining....
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This note was uploaded on 08/08/2008 for the course ECON 301 taught by Professor Hansen during the Spring '08 term at University of Wisconsin.
- Spring '08