Average Fixed Cost Goes Down as Output Decreases

question 20

True/False

Average fixed cost goes down as output decreases.

---

Definitions:

Gulf of Tonkin Resolution

A 1964 U.S. congressional resolution that gave President Lyndon B. Johnson broad powers to escalate the Vietnam War without a formal declaration of war.

Congress

The legislative branch of the United States federal government, composed of the House of Representatives and the Senate.

November 1963

Notable for the assassination of U.S. President John F. Kennedy on November 22, 1963, an event that shocked the world and had a lasting impact on American society and politics.

August 1964

pertains to the month and year notable for the Gulf of Tonkin incident, which led to the escalation of U.S. involvement in the Vietnam War.