COST OF PRODUCTION

Assessment
•

ita j
•
Other
•
3rd Grade
•
23 plays
•
Medium
Student preview

10 questions
Show answers
1.
Multiple Choice
The short run is a period of time in which
the quantity of at
least one factor of production is fixed
the amount of output
is fixed.
prices and wages are fixed
nothing the firm does can be altered
2.
Multiple Choice
In the above figure, which of the following statements is FALSE?
The total fixed cost curve is curve C
Marginal
cost is equal to the slope of curve A.
The vertical gap between curves A and B is equal to average fixed cost (AFC)
Total
variable cost and total cost both increase as output increases.
3.
Multiple Choice
In the long run
all input can be varied
all inputs are fixed
some inputs are variable and other inputs are fixed
outputs is fixed
4.
Multiple Choice
The vertical distance between a firm's total cost (TC) and its total variable cost (TVC) curves
decreases as output decreases
is equal to the average variable cost (AVC)
is equal to the total fixed cost (TFC)
is equal to the marginal cost (MC)
5.
Multiple Choice
In the above figure, which of the following statements is FALSE?
Average fixed cost decreases (AFC) as output decreases
The vertical gap between curves B and C equals marginal fixed cost.
The vertical gap between curves B and C gets smaller as AFC decreasas
Curve A is the marginal cost (MC) curve
Explore all questions with a free account
Find a similar activity
Create activity tailored to your needs using
Quiz Ekonomi Mikro Chp. 11 "Output and Costs"

•
1st - 3rd Grade
Penerimaan, Biaya Produksi & Laba Rugi

•
3rd - 4th Grade
Theory of Production and Analysis of Cost

•
1st - 3rd Grade
Mr Smith's Cost Quiz Extravaganza

•
KG - University
Task 3 (Take Home Exercise)

•
1st - 3rd Grade
Production and Cost

•
KG - University
Econ COSTS AND REVENUE

•
1st - 3rd Grade
Cost&Profit

•
KG - 5th Grade