Average Fixed Cost (AFC)

question 96

Multiple Choice

Average fixed cost (AFC)

• A)is the fixed cost divided by the average sales price of the final good.
• B)is the fixed cost divided by the quantity of output produced.
• C)is $0 when no output is produced.
• D)is always less than average variable cost (AVC).

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Definitions:

Localization of Function

The concept that different parts of the brain are responsible for specific psychological processes and behaviors.

Neural Structures

Physical formations comprised of neurons within the nervous system that play a crucial role in controlling behavior and cognitive functions.

Brain Region

Specific areas within the brain responsible for particular functions or processes.

Ecological Validity

A property of research such that the focus of study is something that occurs naturally outside an experimental laboratory.