Question : The average fixed cost curve is:
Option 1: upward sloping
Option 2: 'U' shaped
Option 3: 'V' shaped
Option 4: downward sloping
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Correct Answer: downward sloping
Solution : The correct option is downward sloping .
The average Fixed cost (AFC) curve is one of the cost curves used in economics to analyse the cost structure of a firm. It represents the Fixed cost per unit of output. The average fixed cost curve is typically downward sloping.
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