
Production Function and Short-run Production Cost
Authored by Vincent Liu
Business
10th - 12th Grade
Used 10+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT considered as variable input?
A. Worker
A. Building
A. Raw materials
A. Operation manager
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The marginal production from 3 to 4 labors is _________.
2
7
4
8
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At the level of 5 labors, average production is __________.
4 units
6 units
7 units
8 units
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Total Costs / Quantity = _____
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Costs that do not change when the quanity of output produced changes?
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Time period in which one of the costs is fixed?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Additional cost associated by producing one additional unit of product.
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