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