Comment on the Following Statement: "Average Fixed Cost Falls as Output

question 50

Essay

Comment on the following statement: "Average fixed cost falls as output rises, but average fixed cost will never be equal to zero."

---

Definitions:

Public Debt

The amount of federal securities outstanding, which represents what the federal government owes (the accumulation of federal deficits minus surpluses over the last two centuries).

GDP

Gross Domestic Product, which is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

Foreigners

Individuals or entities from one country that are located in or interacting with another country.

Liability

An obligation of an entity arising from past transactions or events, the settlement of which may result in the transfer of assets, provision of services, or other yielding of economic benefits in the future.