BBE LECTURE 3

BBE LECTURE 3

University

10 Qs

quiz-placeholder

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BBE LECTURE 3

BBE LECTURE 3

Assessment

Quiz

Business

University

Practice Problem

Hard

Created by

Trang thu

Used 6+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the goal of the firm?

Revenue

cost saving

Profit

Market share

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which group of cost does opportunity cost belong to?

Explicit costs

Implicit costs

Accounting costs

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is marginal cost?

The cost that firms have to pay for the customer

The cost of production

Increase in total cost arising from an extra unit of production

The accounting cost

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is characteristic of fixed costs?

Vary with the quantity of output produced

Is Bigger than variable costs

It's not necessary to pay by The Firm

Do not vary with the quantity of output produced

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Wha is the characteristics of the competitive market except?

Market with many buyers and sellers

Trading identical products

Trading totally different products

Firms can freely enter exit the market

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are barriers arise to entry market except?

Monopoly resources

Government regulation

Production process

Marketing process

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are characteristics of monopolistic competition except?

Many sellers

Many buyers

Product differentiation

Free entry and exist

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