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