
7th quiz
Quiz
•
Other
•
University
•
Practice Problem
•
Hard
x y
Used 12+ times
FREE Resource
Enhance your content in a minute
30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In the short run
existing firms do not face limits imposed by a fixed input
all firms have costs that they must bear regardless of their output
new firms can enter an industry
existing firms can exit an industry
Answer explanation
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which type of cost does not depend on a firm's output?
fixed cost
variable cost
total cost
marginal cost
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which type of cost does depend on a firm's output?
variable cost
total cost
marginal cost
all of the above
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Economists usually assume that ________ is a fixed input in the ________ run.
labor; short
capital; short
labor; long
capital; long
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Total variable cost ________ as output increases, and total fixed cost ________ as output increases.
increases; increases
increases; decreases
increases; does not change
does not change; does not change
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The formula for total fixed cost is
TFC = TC + TVC
TFC = TVC -TC
TFC = TC/TVC
TFC = TC -TVC
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Total cost is calculated as
the sum of total fixed cost and total variable cost
the product of average total cost and price
the sum of all the firm's explicit costs
the sum of average fixed cost and average variable cost
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
25 questions
financial institutions and markets
Quiz
•
University
25 questions
Acct. Test Bank #4 Adjusting Entries
Quiz
•
9th Grade - University
25 questions
Astro Quiz 2025
Quiz
•
University
25 questions
TES Ulangan semester X
Quiz
•
10th Grade - University
25 questions
James’s Quiz
Quiz
•
1st Grade - University
25 questions
2025 North Dakota Parliamentary Procedure Exam State Exam
Quiz
•
9th Grade - University
25 questions
Production Possibilities and More
Quiz
•
12th Grade - University
26 questions
Food allergies
Quiz
•
3rd Grade - Professio...
Popular Resources on Wayground
5 questions
This is not a...winter edition (Drawing game)
Quiz
•
1st - 5th Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
10 questions
Identify Iconic Christmas Movie Scenes
Interactive video
•
6th - 10th Grade
20 questions
Christmas Trivia
Quiz
•
6th - 8th Grade
18 questions
Kids Christmas Trivia
Quiz
•
KG - 5th Grade
11 questions
How well do you know your Christmas Characters?
Lesson
•
3rd Grade
14 questions
Christmas Trivia
Quiz
•
5th Grade
20 questions
How the Grinch Stole Christmas
Quiz
•
5th Grade
Discover more resources for Other
26 questions
Christmas Movie Trivia
Lesson
•
8th Grade - Professio...
20 questions
christmas songs
Quiz
•
KG - University
20 questions
Holiday Trivia
Quiz
•
9th Grade - University
15 questions
Holiday Movies
Quiz
•
University
14 questions
Christmas Trivia
Quiz
•
3rd Grade - University
20 questions
Christmas Trivia
Quiz
•
University
8 questions
5th, Unit 4, Lesson 8
Lesson
•
KG - Professional Dev...
20 questions
Disney Trivia
Quiz
•
University
