QUIZ_PIE_FINAL EXAM_1A

1. All expenses made by the company to obtain production inputs (factors of production) which will be used to support production activities to produce the production of products that will be offered to the market are called....

• Manufacture Cost

• Production Cost

• Sunk Cost

• Non Fixed Cost

2. Basically there are two concepts of production costs, namely:

• Internal Costs and External Costs

• Fixed Costs and Non Fixed Costs

• Implicit Costs and Explicit Costs

• Overhead Costs and Non Overhead Costs

3. Production costs that are not shown in the financial statements are called ....

• Implicit Costs

• Explicit Costs

• FOH Cost

• "Sunk" Cost

4. Production costs shown in the financial statements. is called ....

• Implicit Costs

• Explicit Costs

• FOH Cost

• "Sunk" Cost

5. There are three concepts for studying short-run production costs, except ...

• average cost = AC

• total cost = TC

• marginal cost = MC

• marginal revenue= MR

6. The total amount of costs incurred by the company to obtain production inputs and is the sum of the fixed costs and variable costs of the company, called ....

• average cost = AC

• total cost = TC

• marginal cost = MC

• marginal revenue= MR

7. The formule below :

TC = FC + VC

We can called it as the formula of....

• average cost = AC

• total cost = TC

• marginal cost = MC

• marginal revenue= MR

8. The costs incurred by the company to produce one unit of product which is the sum of the average fixed cost (AFC) and average variable cost (AVC) is called...

• average cost = AC

• total cost = TC

• marginal cost = MC

• marginal revenue= MR

9. The formule below:

AC = AFC + AVC

we can called it as the formula of....

• average cost = AC

• total cost = TC

• marginal cost = MC

• marginal revenue= MR

10. Additional costs borne by the company because the company increases its production capacity is called a....

• average cost = AC

• total cost = TC

• marginal cost = MC

• marginal revenue= MR