The Following Table Gives Values for Three Different Functions

question 138

Short Answer

The following table gives values for three different functions. One of the functions is neither linear nor exponential. Is that function increasing or decreasing?

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Definitions:

Average Fixed Cost

The fixed costs of production divided by the total units of output, which decreases as production increases.

Total Cost

The complete cost of production, combining both fixed and variable costs.

Total Variable Cost

Total Variable Cost is the sum of all costs that vary with the level of production, such as materials and labor directly involved in the production.

Average Fixed Costs

The total fixed costs of production divided by the quantity of output produced, which decreases as production increases.