Multiple-Choice Questions

  1. Question

    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
    Consider the data about the cost of each year of college in the table below:
  2. Question

    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
    Comparing accounting profit to economic profit, accounting profit can
  3. Question

    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
    Which kind of profit is just enough to keep a firm operating in the long run?
  4. 585

    Question

    Refer to the cost data in the table below to answer Question 4.

    image
    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
    If this business can sell all it can produce at a market price of $16, the firm should produce how many units in order to maximize profits?
  5. Question

    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
    Assume a perfectly competitive firm is producing at a level of output where marginal revenue is greater than marginal cost. To maximize profits, the firm should
  6. Question

    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
    When a firm is producing where marginal cost is equal to marginal revenue, the firm
  7. Question

    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
    A fixed input
  8. Question

    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
    If marginal product is positive and declining as more workers are hired, then total product is
  9. Question

    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
    Diminishing marginal returns always involve
  10. Question

    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
    If marginal cost is positive and rising as more output is produced, then total cost is
  11. Question

    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
    Marginal cost rises due to
  12. Question

    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
    The relationship between the marginal cost curve and the average cost curve is that when marginal cost is
  13. Question

    d3o6ulwJ7XeR9XZXSkCCGhONelSHfzbj/OICXrRwBCeEie54QOnksEqqwF714gtaczDmnhWNFY5iV1BWehQlqE08Au/wt8eyP8C88h4dJyMsuHKO+/ZIfdUfIVEY9Mbd0oheIGWKgnfmEc78Ike/X2tdTKAV2HCjliZ8aR8OVbWPedPyktp4/T2MrezDjc2plrXFIBwq/hUt2ZQxqvzdQihX+o3GewQn8iSGqbRP+BVt9d7M3BXiSXdycT2zShCojC3y5ZN7E6o4AAPK39Tqi+snsNK/ZO0Yu4/K2RwGgoqHtvm0nUr7ox6/5dpGWlV8dFClbZRnkJ60NjM0tIbQiclzD0h1A1YIMLwD/MEGlyjrP638pjzRF2ODMjLtrizMbuwvmlLf3oe/XwmLiNGTSbjVInHdIoUiIHzd1iwHaLUJ8LIgV4bcb3qUVVN+aLV+CHgUH63LCMZ8zIChuA0+N+TCiy8dqWYfJVGDhhOED/Td5uMOMQdEuigPlX1+rJjNRP5ls70B25EtazCfrg4/kW3iqRvB0T4jHQ0ANQQa8SZjcV7HFR7DotplUr6okRNN8UjYmUPnawRKf7WM9yWauy/8SfHfFrj2vYsEuoBToCcmWBvetdNYmh6PGaDbwDmKWCY1No4153FhfVhWebiE1sae69yDVEuXW5vKnoyd/EpN6iChJ1M1L+7PSOlzkKuaUcrBs/kmkrVHCIVtl2TWJuq5K191vfkvsQcOHV7SpjnqW9GEHNHE/Ym9O9GtvVqSnko0RliLteYjBM7WttpUaViA4Z9L/UmIgJpSpJOxL3qjxAX4pmCWdZJQOnBJuUxMi/feasrvNex/HBdZwFzitl6X+azLcBfTCd4nKSecpnYY6lLCekMKXzqZIIjv4iB/6jhlDevYBalykGNoR/su+Cyz+3YzU2bQChiGZzRM6pW99Ywv8mVRR0VpKnl8pA3VmjQSAA5Ot+hUjbaEMnmiEcT5KAx9695xZKydhPRUdPyrKabYtokOnxRvacDfKeB01V/+lHT/A6ZXPYA+NJB4uGuEIzf20Shzn28AargYM4RVdIkWNQF5+UNotJ6VUHn/
    In the shor
  14. Question

    Z6TK73IZr4iUal3sEaNvhFGp27lFpxg3u3Ev6ydUCYdYzlENCb/y35WZkoX0Z2nLwK6EOuNlGbSzVaxxb+8MezDOAXroMRrc5ZjYppFgX/r51GlKzqTZ1geM04jAuacbEwSdwhOCV2LPp1di2vNX2a7bE6WXj5Rfz1EyEMXLsrb/a3ccImGmybhntA+elVhXP/NCLkAad454t17yoPHLxYtsYRQJB/1aYzfNNVxxSgt3TrU02xfNKDi7+7nSmQ3dVWH6rIruUXrF3fE1WDVFZYZgmT7IiYEXqGUQvJcmLu0xyQ6MOgyEOeCJJV7PDV1HiDDsVgjin8J2NFxV1K9ZtAQKF+loUyg9nZCdn1cOpzVIcorGQ2ymI/AaVwzb6lV9oHWCkrd6GJOAoVVhfdae0L+mxMB8XjYK2a8R6zmzUcDAQLCS9RW6qox5xFRrYL36CjsPLjyCuHebgPSEdx48CWKQEIF2FET+eS2zVxH42Ev21NXvOLPJ8oYzoch00+Mixm/lynA9uBgETKKQX/ZDAWCcH8BFNRTrWVe1rqcRvA2E3n1QET0MeAsvw7zuoQksGuhtJVcJSpiC79hnjODgKdy4U/wayo87Vv8h1mA4zCYBmKICOUdBLwXQbavxn3fLArRGJhhMK3xUN8SUBpCvZWw2pni6y4BiEV3pHPS6D0A3zdhrGROA9v6IUOqQggoLik6DSYBrkZNogYAwDSqVzYPixzpwR9v7053R8/st/uxF/SIgF/GhuRKtGWow49jxenk3P4w2SZ0IRonRzDXZcSe9bNK2gLxDk6A1CUPkRgBe0hM/n3Mfidr/d/2Hi/QWwy2+G68nEaNIIqhWmBY8dnUavR2rd2s+70UZhWv355wlRi2Mu4SQEnZyfin2wTFDfLnu+oscuLsf4YmdeMYB9mnQbPXrp1DgcRHFXDvIIdJ4A745zPHnM5OCE1KUdIoGPkVjoJdCNEMDbLzfRA43BeX0Dh/Pq5/c5SjReGRYncd+FhDGfOAeztflF7qQoC7ZZNUATctVpsjyIVFl3HzAnWy1lpIQMEAxl/pgah5UbC+c+s7c25RqtjSIodT6ocqXy0uPvMU5A/HNHjysdp3ncvsqeHbcpaZzW1KdbWanWgchl56T4uNLS3cxKFg=
    If at the current level of output of 200 units, average variable cost is $10 per unit and average total cost is $15 per unit, then
  15. Question

    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
    If labor is the only variable input and the wage rate is constant, marginal cost reaches its minimum when
  16. Question

    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
    The spreading effect causes the average total cost curve to
  17. 586

    Question

    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
    If marginal cost is rising and lies above average variable cost, then average total cost
  18. Question

    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
    If the average product of labor is rising as more workers are hired, then
  19. Question

    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
    The lon
  20. Question

    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
    When a firm makes production decisions, the sunk cost should be
  21. Question

    q5PZDtO2Mw2ekA9oaTAxWmzxwcg6AsGvAZJM3MIKc4aCVLzxmlnImbNESxmc+8zheAZLpJ3qzAaDDcM5KnOzFYcLRGJs6rnR0qAFpTjS2QRDV3rPeigbfg3M3uPIEsjkGpcr0IJHgqkiDEcdIY+gNHuom9iDeg5jHCMX63uA5TsU1nqGsH7BiwRNOdS2pVQzE4M1oyCsQQ4Jmcj4NK0zBvFOCsk/ql3OeKCb2G3SIC/ZqzfmQBj6HHkBGikdtWILYv4BAD23ZRFOKj6QZZr97n4uFBzzs2CarogjVuzmzW7ueacvfvYBJ/YecFHqpCSjtTp4MgXQGOUM6Pw4lJScRLQK1L0aZ8pjXk2RofnHgj4dliPa6NNQkcvChq7CG8ok0Tdu9N63403n/geQV9I9PAVPosCw6wv65KDWcdvpSw86tqMU6dlUdJP+RSBzYCWbEQimnMl6I+o/kichIYSuOh9CqzBVjutitxmsttZzvTxnbsWN54WCGVpHMp9pw78vM3Y9tJGjjIcpHCI0qmVAuuh91zn5rsPAi9PUukKyFiUOCdFVfI+MrcM0xCZOtyd/+gt8D9S9BMRC0pcgKgMZzODFv9Rg3sAkYZimiNc9ukSwXdCnlR//9R5HDoWXI71vGUiaaF3NtUCY8u6aUsTlJaJn15LyxixPNjuR5XY24jeX764dlx3Z6QQWDF8My3/jAtaRaqUez8prXR9s/FVzBj+jy41TY2+UCLPvoK6pSpErZyAmy+8MHmfefBqmTIBEvYG0pC9KqAwredarqx6YTJrQEVrZ9BbyyGlVqcU1bIC7YC7DKnydC4POZSsb50/crL8im9ICirmV3QkDkewGLrissVairkIFpP9TCv9eqNFlib5mrCDUDg0WrHXa1EIIPrZAnRxt+tVq2RI2xFaT4DS7PQE4cEAKnOVMZMOgQlj36hBkA8DgRLpPyNn/4LWMYKa8qVAPlnqIz6uD3Pa7712nh3H3/ctX3OJZ1YMjoKFTZl91/yjEJaNGV9KYftl6FfSIzTRo97d94B5yF5LBizMUyhfTwFYeGQUy4ieSPjgBqMFYTm8lCS1KZRzTZI97pUe9X2Mb8/Y=
    Monopolistically competitive industries are characterized by
  22. Question

    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
    Compared to a monopolistically competitive industry, an oligopoly has
  23. Question

    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
    Compared to a monopoly, an oligopoly has
  24. Question

    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
    Diseconomies of scale can be caused by