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What is the relationship between average fixed cost and output?
Globalization
The integration of national economies into a worldwide economy.
American Consumer
An individual in the United States who purchases goods and services for personal use.
Frederic Bastiat
A 19th-century French economist and writer known for his advocacy of free trade and his witty criticisms of protectionism and socialism.
Adam Smith
A Scottish economist, philosopher, and author, often considered the father of modern economics known for his theories on free markets and the 'invisible hand' guiding economies.
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