which of the following best defines OC?
kiếp lầm than

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Other
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12th Grade
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Medium
Hà Phạm
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130 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
it is the cost of producing those goods most desired by a given economy
it is the cost of the input mix that will lead to the greatest rate of growth for a given company
is it the amount of one product that must be given up in order to produce an additional unit of another product
it is the use of the least-cost method of production
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
which of the following explains why a PPC is often represented as concave (bowed out) from the origin?
the law of demand
constant returns to scale
decreasing OC
increasing OC
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
assume that consumers consider popcorn and pretzels to be subs. a significant decrease in the supply of popcorn will affect the pretzel market by
increasing the demand for pretzels and therefore the supply of pretzels
increasing the demand for pretzels and therefore the price of pretzels
decreasing the demand for pretzels and therefore the price of pretzels
increasing the supply for pretzels and therefore the price of pretzels
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
in the market depicted in the diagram above (4/2012), if the government imposes a price ceiling of $1.00 per gallon on gasoline, which of the following will result?
a surplus of 6 bill gallons
a shortage of 6 bill gallons
a surplus of 12 bill gallons
a shortage of 12 bill gallons
neither a surplus nor a shortage, bcz the price ceiling would not be effective
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
assume that Clark spends his entire income on the purchase of two goods, X and Y. if his income and the P of good X and Y all double, Clark will
double the purchase of goods X and Y
buy more of good X and less of good Y
buy less of good X and more of good Y
buy the same amounts of goods X and Y
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
suppose that a firm begins to hire workers for a newly completed plants with a fixed amount of machinery. as the firm hires additional workers, one would expect the marginal product to
fall initially but eventually rise
rise initially but eventually fall
rise consistently due to diminishing return
rise consistently due to the ads of specialization
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
in the SR, which of the following costs must continuously decrease as output produced increases
total variable cost
total fixed cost
AVC
AFC
ATC
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