Which of the following is a feature of the short-run cost curves?
A. There are no fixed costs
B. All costs are variable
C. Average fixed cost declines continuously as output increases
D. Marginal cost is always constant
Answer: Option C
Solution (By JKSSB Mock Tests)
Average fixed cost falls continuously with an increase in output because total fixed cost is spread over a larger number of units; the AFC curve is a rectangular hyperbola.
Explanation:
The foundational economy comprises the everyday goods and services—utilities, food, health, education, care—that are essential for civilised life and are often most effectively provided through collective arrangements.
Explanation:
Soft loans are provided by multilateral agencies or governments at below-market interest rates with longer maturities and grace periods, often for development purposes.
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