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AP Microeconomics
Unit 3 – Production, Cost, and the Perfect Competition Model
Topic 3.2
A company experiences a decrease in its average fixed cost (AFC) while its average variable cost (AVC) remains unchanged. Which of the following factors is most likely responsible for this change?
Improved production efficiency
Increased labor costs
Higher energy prices
Decreased raw material costs
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AP Microeconomics - 3.2 Short-Run Production Costs
Key terms
Average Fixed Cost (AFC)
Average Variable Cost (AVC)
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About Fiveable
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Resources
Cram Mode
AP Score Calculators
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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