Home ยป In the short run, when the output of a firm increases, its average fixed cost Demand and Supply MCQs In the short run, when the output of a firm increases, its average fixed cost September 27, 2022 4 Views Q. In the short run, when the output of a firm increases, its average fixed cost: Remains constantDecreasesIncreasesFirst decreases and then rises Answer: Decreases
The term ‘normal profit’ as used in the analysis of equilibrium of the firm under perfect competition, refers to
