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ECONOMICS

Authored by jiaxuan jiaxuan

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9th Grade

Used 41+ times

ECONOMICS
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

total cost/ quantity = ?

marginal cost

average cost

implicit cost

total fixed cost

2.

DRAW QUESTION

1 min • 1 pt

Draw the graph for average variable cost

Media Image

Answer explanation

Media Image

if u got it right good job!! if not, try harder!!!!

3.

MATCH QUESTION

1 min • 1 pt

Match the following graphs to respective formulas

average variable cost

Media Image

total fixed cost

Media Image

average fixed cost

Media Image

marginal cost

Media Image

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is Average Fixed Cost a short run or long run?

short-run

long-run

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of Average Fixed Cost?

Salaries of Permanent Employees

Hourly Labor Cost

Production Materials

Hiring a Person

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Will the Average Fixed Cost change when there is a change in the number of goods and services produced by a company?

Yes

No

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For the Average Fixed Cost Graph, does the cost curve increase or fall?

Increase

Fall

Remain the same

Constant

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