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प्रश्न
What would happen to the following type of cost as output is increased?
Average cost
लघु उत्तर
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उत्तर
- As output increases, the Average Cost (AC) initially decreases, reaches a minimum point, then starts increasing.
- AC = `"Total Cost"/"Output"`
- The Average Cost (AC) curve is U-shaped, showing decreasing cost at first, then increasing cost due to the law of variable proportions.
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