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