Average Fixed Cost

question 175

Multiple Choice

Average fixed cost

• A)increases as output rises.
• B)remains constant as output rises.
• C)equals marginal cost for the first unit of output.
• D)decreases as output rises.
• E)increases with rising output and then declines.

---

Definitions:

Test Statistic

A calculated value from sample data used to determine whether to reject the null hypothesis within the framework of a statistical test.

Obtained Value

The actual value calculated from a statistical test's data, used to interpret the result by comparison with critical values of the distribution.

Statistical Procedure

A sequence of operations performed on data to analyze relationships, test hypotheses, and estimate probabilities.

Dependent Means

A statistical method that compares the means of two related groups to determine if there is a significant difference between them.