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» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a>. AC and AVC curves are U-shaped, but AFC is a rectangular hyperbola.The AFC is <a href="https://interviewquestions.tuteehub.com/tag/defined-947013" style="font-weight:bold;" target="_blank" title="Click to know more about DEFINED">DEFINED</a> as the <a href="https://interviewquestions.tuteehub.com/tag/fixed-457597" style="font-weight:bold;" target="_blank" title="Click to know more about FIXED">FIXED</a> cost, which is a <a href="https://interviewquestions.tuteehub.com/tag/constant-930172" style="font-weight:bold;" target="_blank" title="Click to know more about CONSTANT">CONSTANT</a>, divided by <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> 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.</body></html>

Discussion