Navigation » List of Schools » Glendale Community College » Economics » Econ 101 – Microeconomics » Summer 2021 » iVAT Chapter 11
Below are the questions for the exam with the choices of answers:
Question #1
A Remain constant as output rises.
B Increase as output rises.
C Decrease as output rises.
D Equal average total cost.
Question #2
A Equal average total cost.
B Not change as output increases.
C Increase as output increases.
D Decrease as output increases.
Question #3
A Variable cost curve at its minimum point.
B Average variable cost curve at its minimum point.
C Total cost curve at its minimum point.
D Average fixed cost curve at its minimum point.
Question #4
A Average variable costs will be rising.
B Average product is increasing and average variable costs are declining.
C Total costs will be declining.
D Average product is decreasing and average variable costs are declining.
Question #5
A Average variable costs will begin to rise.
B Average variable costs will begin to decline.
C Average fixed costs will rise.
D Average total costs will begin to rise.
Question #6
A Overall GPA will fall.
B Overall GPA will remain the same.
C Marginal grade is less than his average grademarginal grade is less than his average grade.
D Not enough information provided.
E Overall GPA will increase.
Question #7
A The average fixed cost curve at its minimum point.
B The average variable cost and average total cost curves at their minimum points.
C The total cost curve and the total variable cost curve at their minimum point.
D The average fixed cost curve at its maximum point.
Question #8
A Average variable cost is $2.
B Average total cost is $3.
C Average fixed cost is $1.
D Average total cost is $1.
Question #9
A Due to the fact that variable costs are being spread over an increasing number of units produced.
B Due to the fact that production is becoming increasingly efficient.
C Due to the fact that fixed costs are being spread over an increasing number of units produced.
D Because total costs are declining.
Question #10
A Fixed costs.
B Average fixed costs.
C Variable costs.
D Average total costs.
Question #11
A Due to increases in the size of a factory.
B Because economies of scale are being utilized.
C Because per-unit labor costs rise due to decreases in productivity.
D Because per-unit labor costs fall due to decreases in productivity.
Question #12
A Variable cost.
B Marginal cost.
C Average cost.
D Total cost.
E Declining relative costs.
Question #13
A Average costs decline rapidly.
B Marginal costs must fall.
C Marginal costs must rise.
D Average costs must rise.
E Average costs must fall.
Question #14
A Is output plus variable costs.
B Is total output divided by variable costs.
C Is total variable costs divided by total output.
D Is total fixed costs divided by total output.
Question #15
A Fixed costs and variable costs.
B Marginal costs plus variable costs.
C Variable costs.
D Fixed costs, but variable costs are excluded.
Question #16
A Total cost divided by marginal cost.
B Fixed cost divided by number of workers.
C Total cost divided by total output.
D Fixed cost divided by total output.
E Total variable cost divided by total fixed cost.
Question #17
A Marginal product is decreasing.
B Average product is increasing.
C Average product is constant, which leads to an increase in average product.
D Average product is decreasing.
Question #18
A Marginal product is positive.
B Marginal product is negative.
C Marginal product is equal.
D Average product is increasing.
Question #19
A A and B
B B and C
C A
D B
Question #20
A The size of the factory is variable.
B The amount of labor employed is variable.
C The amount of labor employed is not variable.
D The number of factories is variable.
Question #21
A Some inputs are variable and some are fixed.
B The firm is constrained in regard to what production decisions it can make.
C All inputs are variable.
D Some inputs are fixed.
E All output is fixed.
Question #22
A Not enough information provided.
B 50,000
C 120,000
D 500,000
E 25,000
Question #23
A Variable costs.
B Marginal costs divided by output.
C None of the available answers.
D Opportunity costs of the next best alternative that must be estimated.
E Total costs plus explicit costs.
