Which of the following cost curve is never `U' shaped ? (1) Marginal cost curve (2) Average variable cost curve (3) Average fixed cost curve (4) Average cost curve

Which of the following cost curve is never `U' shaped ? (1) Marginal cost curve (2) Average variable cost curve (3) Average fixed cost curve (4) Average cost curve
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(3) Average fixed cost curve Explanation: Average fixed cost curve is never 'U' shaped. Since total fixed costs are unchanged as output rises, the average fixed cost curve falls continuously as output is increased.
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