Economics · Cost Concepts
Which of the following graphical representations illustrates a fixed cost when the vertical axis represents total cost incurred?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A downward sloping curve
- 2A horizontal step line moving upward
- 3A straight line starting from the origin and sloping upward
- 4A horizontal straight line parallel to the quantity axis✓
Correct answer
A horizontal straight line parallel to the quantity axis
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