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Mekanisme Pasar, Perilaku Konsumen dan Produsen, Perilaku Biaya

Total questions: 20

Worksheet time: 24mins

Name
Class
Date
1.

Harga yang terbentuk karena bertemunya kurva permintaan dan kurva penawaran disebut

a)

harga ekuitas

b)

harga ekuilibrium

c)

harga penyeimbang

d)

harga penjualan

2.

Fungsi Permintaan sepatu dilambangkan dengan fungsi Qd= 890 - 2P, bila kuantitas barang yang diminta adalah 450, maka harga sepasang sepatu adalah

a)

220

b)

225

c)

230

d)

260

e)

280

3.

Harga bakso menunjukkan perubahan dari Rp 12.000 menjadi Rp. 15.000 per mangkoknya mengakibatkan perubahan jumlah yang diminta berkurang dari 600 unit menjadi 400 unit. Besarnya elastisitas permintaannya adalah...

a)

23\frac{2}{3}

b)

34\frac{3}{4}

c)

1 131\ \frac{1}{3}

d)

1 121\ \frac{1}{2}

e)

2

4.
For a particular good, a 12 percent increase in price causes a 3 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?
a)
There are many substitutes for this good.
b)
The good is a necessity.
c)
The market for the good is narrowly defined.
d)
The relevant time horizon is long.
5.
A key determinant of the price elasticity of supply is
a)
the ability of sellers to change the price of the good they produce.
b)
the ability of sellers to change the amount of the good they produce.
c)
how responsive buyers are to changes in sellers' prices.
d)
the slope of the demand curve.
6.

If the price elasticity of supply is 0.2, and a X% price increase led to a 3% increase in quantity supplied, then the price increase is about

a)
0.07%.
b)
0.60%
c)
6%
d)
15%
7.

Use the following two statements to answer this question:

I. Production functions describe what is technically feasible when the firm operates efficiently.

II. The production function shows the least cost method of producing a given level of output.

a)

Both I and II are true.

b)

I is true, and II is false.

c)

I is false, and II is true.

d)

Both I and II are false.

8.

Joe owns a small coffee shop, and his production function is q = 3KL where q is total output in cups per hour, K is the number of coffee machines (capital), and L is the number of employees hired per hour (labor). If Joe's capital is currently fixed at K=3 machines, what is his short-run production function?

a)

q = 3L

b)

q = 3L2

c)

q = 9L

d)

q = 3K2

e)

both c and d

9.

The marginal product of an input is:

a)

total product divided by the amount of the input used to produce this amount of output.

b)

the addition to total output that adds nothing to total revenue.

c)

the addition to total output that adds nothing to profit.

d)

the addition to total output due to the addition of one unit of all other inputs.

e)

the addition to total output due to the addition of the last unit of an input, holding all other inputs constant.

10.

Use the following two statements to answer this question:

I. Isoquants cannot cross one another.

II. An isoquant that is twice the distance from the origin represents twice the level of output.

a)

Both I and II are true.

b)

I is true, and II is false.

c)

I is false, and II is true.

d)

Both I and II are false.

11.

Which of these are costs?

a)

fixed

b)

variable

c)

operating

d)

revenue

12.

Kelly makes and sells quilted blankets out of her home. She charges $50 per blanket. For each blanket she makes, she must spend $1 on thread, $2 in electricity and $12 on cloth. This month she made and sold 15 blankets. What is Kelly's total revenue?

a)

$25

b)

$225

c)

$375

d)

$750

13.

Which of the following is the best definition of profit?

a)

The total amount of income a business makes from selling products or services

b)

The amount of money a business has left over after paying for their costs.

c)

The total amount of money a business spends.

14.

You own a restaurant and every month you must pay your water bill. However, you never know how much that bill will be because the amount changes based upon how much water your business uses. This is a...

a)

fixed cost

b)

variable cost

15.

If two microwave ovens are produced, Micro Oven's total variable costs are

a)

$100

b)

$120

c)

$150

d)

$459

e)

indeterminate from this information.

16.

Wilbur's Widgets, a widget company, produces 100 widgets. Its average fixed cost is $5 and its total variable cost is $300. What is the total cost of producing 100 widgets?

a)

$300

b)

$400

c)

$700

d)

$800

17.

Identity curve number 3

a)

Fixed cost

b)

Variable cost

c)

Total cost

d)

Marginal cost

18.

What does marginal cost (MC) tell us?

a)

Is cost from fixed input

b)

Is variable cost

c)

The increase in output that arises from an additional unit of input

d)

The increase in total cost that arises from producing an additional unit of output

19.

If MRS(marginal rate of substitution) is constant then the nature of IC is ...

a)

Convex to origin

b)

Concave to origin

c)

Straight line

d)

Passes through origin

20.

Consumer's equilibrium is maintained at the point where ....

a)

Budget line cuts indifference curve

b)

Budget line is tangent to indifference curve

c)

Budget line is convex to origin

d)

Budget line is parallel to indifference curve