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MicroECON Multipe Choice Questions Test bank Answers

Tutorial # 00010844
Posted On: 03/31/2014 05:04 AM
Posted By: expertden
Tutorial Preview …A) xx B) xxxx C) $1,020 xx $1,040 Answer: x 8 xx xxx know xxxx with 8 xxxxx of output, xxxxxxx fixed xxxx xx $12 xx and average xxxxxxxx cost is xxx 25, xxxx xxxxx cost xx this output xxxxx is: A) xxx 75 xx xxx 78 xx $750 D) xxxx Answer: C x If xxxxxxx xxxxxxxx cost xx $74 and xxxxx fixed cost xx $100 xx x units xx output, then xxxxxxx total cost xx this xxxxxx xxxxx is: xx $91 B) xxx C) $97 xx $100 xxxxxxx x 10 x firm has xxxxx costs of xxxxxx Its xxxxxxx xxxxxxxx cost xx $2 00 xx an output xx 5,000 xxxxx xxx average xxxxx cost is: xx $2 50 xx $3 xx xx $3 xx D) $4 xx Answer: B xx With xxxxx xxxxx of xxxxx a firm xxx average total xxxxx of xx xxx average xxxxxxxx costs of xx 50 Its xxxxxx is: xx xxx units xx 400 units xx 800 units xx 1,600 xxxxx xxxxxxx C xx At an xxxxxx of 1,000 xxxxx per xxxxx x firm's xxxxxxxx costs are xxxxxx and its xxxxxxx fixed xxxxx xxx $3 xxx total costs xxx year are: xx $10,000 xx xxxxxx C) xxxxxx D) $5,000 xxxxxxx B 13 xx an xxxxxx xxxxx of xx units per xxx a firm xxx average xxxxx xxxxx of xxx and average xxxxxxxx costs of xxx Its xxxxx xxxxx costs xxxx A) $925 xx $1,250 C) xxxxxx D) xxxxxx xxxxxxx B xx Refer to xxx above graph xx shows xxx xxxxx cost xxxxxx Total fixed xxxx at output xxxxxxx is xxxxxxxx xxx A) xx B) AC xx CD D) xx Answer: x xx At xxx level of xxxxxxx A) average xxxxxxxx cost xxxx xxxxxx average xxxxx cost in xxx short run xx marginal xxxx xxxx exceed xxxxxxx variable cost xx the level xx average xxxxx xxxx C) xxxxxxx variable cost xxxx exceed average xxxxx cost xx xxx level xx average total xxxx D) average xxxxx cost xxxx xxxxxx average xxxxxxxx cost by xxx level of xxxxxxx fixed xxxx xxxxxxx D xx Marginal cost xxx be defined xx the: xx xxxxxx in xxxxx cost resulting xxxx one more xxxx of xxxxxxxxxx xx difference xxxxxxx fixed and xxxxxxxx cost at xxx level xx xxxxxx C) xxxxxx which one xxxx unit of xxxxxx adds xx xxxxx cost xx difference between xxxxx and average xxxxx cost xx xxx profit-maximizing xxxxx of output xxxxxxx C 17 xxxx marginal xxxx xx increasing: xx total…
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