ECON 315- SI- Week 7.1
University
•13 Qs
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ECON 315- SI- Week 7.1
Quiz
•
Mathematics
•
University
•
Practice Problem
•
Easy
+9
Standards-aligned
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A firm total cost function is as follows: TC= 2000+30Q-5Q^2+0.5Q^3. Find AVC
30 -5Q +0.5Q^2
30 -5Q +2Q^2
15 -5Q +0.5Q^2
30 -5Q +0.5Q^-2
Tags
CCSS.HSA.APR.A.1
CCSS.HSA.CED.A.4
CCSS.HSA.SSE.A.1
CCSS.HSA.SSE.A.2
CCSS.HSA.SSE.B.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economist estimated that the cost function of a single-product firm is
C(Q)= 50 +25Q +30Q^2+5Q^3. Find TFC and TVC at 10 units of output
TFC= 8250, TVC = 50
TFC= 50, TVC = 8250
TFC= 100, TVC = 8250
TFC= 50, TVC = 850
Tags
CCSS.HSA.APR.A.1
CCSS.HSA.SSE.A.1
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the cost function of a single-product firm is
C(Q)= 50 +25Q +30Q^2+5Q^3. Find MC at 10 units of output
2305
2105
2125
2115
Tags
CCSS.HSA.APR.A.1
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
If a firm’s total cost function is TC = 400 + 5Q -3Q2 + 2Q3, what is the firm’s ATC if it produces 20 units of output?
725
745
755
765
Tags
CCSS.HSA.APR.A.1
CCSS.HSA.CED.A.4
CCSS.HSA.SSE.A.1
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which costs could change that would be irrelevant to decisions moving forward?
All costs are relevant
Both orange and pink are correct
TFC
Sunk costs
Tags
CCSS.HSS.MD.B.5
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
is continually downward sloping
Tags
CCSS.HSA.REI.D.10
CCSS.HSF.IF.B.4
CCSS.HSF.IF.C.7
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
U-Shaped curve passes through the minimum of ATC and AVC
Tags
CCSS.HSA.CED.A.2
CCSS.HSA.REI.D.10
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