
Practice Topic 4
Quiz
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Social Studies
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University
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Practice Problem
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Medium
Utin Roziana
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a fixed input in production?
Number of daily hired workers
Factory building
Raw materials
Electricity bills
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which curve shows how total output changes when only one input is increased while others stay fixed?
Average product curve
Marginal product curve
Total product curve
Cost curve
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A firm maximizes profit when:
Average cost equals average revenue
Marginal cost equals marginal revenue
Total cost is at its minimum
Average product is constant
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the Total Fixed Cost (TFC) is RM120 and the output is 6 units, what is the Average Fixed Cost (AFC)?
12
20
24
30
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the short run, when only one input increases, the extra output produced is called:
Marginal cost
Total product
Marginal product
Variable product
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a fixed cost?
Petrol
Salary based on hours worked
Insurance premium
Packaging materials
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement best describes the short-run production process?
All inputs are fixed
All inputs are variable
Some inputs are fixed, others are variable
Inputs remain unchanged regardless of output
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