All per unit cost curves (i.e., AVC and AFCcurves) are U-shaped.

1.	All per unit cost curves (i.e., AVC and AFCcurves) are U-shaped.
Answer» Solution :FALSE. AC and AVC curves are U-shaped, but AFC is a rectangular hyperbola.The AFC is DEFINED as the FIXED cost, which is a CONSTANT, divided by QUANTITY of output produced. If you were to plot that, you would get a hyperbola. It's called a rectangular hyperbola because the asymptotes (Which are the X- and y-axes) are at right angles.

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