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