Which of the following curves is not U shaped?
...Which of the following curves is not U shaped?
Marginal cost curve
Average fixed cost curve
Average total cost curve
Average variable cost
Correct answer is B
The average fixed costs AFC curve is downward sloping because fixed costs are distributed over a larger volume when the quantity produced increases. AFC is equal to the vertical difference between ATC and AVC. Variable returns to scale explains why the other cost curves are U-shaped.
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