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Model Paper 5 — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsModel Paper 51 Mark
MCQ
Average fixed cost (AFC) is indicated by:
  • ✓
    a rectangular hyperbola
  • B
    a straight line parallel to X-axis
  • C
    a U-shaped curve
  • D
    a straight line parallel to Y-axis
✓

Answer

Correct option: A.
a rectangular hyperbola
(a) a rectangular hyperbola
Explanation:
AFC is a rectangular hyperbola. It shows that AFC decreases as output increases and $AFC \times Q$ at any level of output is the same. Because $AFC \times Q = TFC$ which is constant at all levels of output.

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