WorksheetsCHAPTER 7: LÝ THUYẾT CHI PHÍ
Total questions: 21
Worksheet time: 11mins
Product A has the total cost function as follows TC = Q2 + 2Q + 100, Please tell me the fixed cost (FC) function in the short run?
FC = Q2 + 2Q
FC = Q2 + 2Q + 100
FC = 100
Other answer
Product A has the total cost function as follows TC = Q2 + 2Q + 100, please tell us the variable cost (VC) function in the short run
VC = Q2 + 2Q
VC = 100
VC = Q2 + 2Q + 100
Other answer
Product A has the total cost function as follows TC = Q2 + 2Q + 100. Determine the average variable cost (AVC) function in the short run?
AVC = 100/Q
AVC = Q + 2 + 100/Q
AVC = Q + 2
Other answer
Product A has the total cost function as follows TC = Q2 + 2Q + 100. Determine the average fixed cost (AFC) in the short run?
AFC = 100/Q
AFC = Q + 2 + 100/Q
AFC = Q + 2
Other answer
Product A has the total cost function as follows TC = Q2 + 2Q + 100, Determine the marginal cost (MC) in the short run?
MC = 2Q + 2
MC = 100/Q
MC = 2Q + 2 + 100/Q
Other answer
The monetary expense that a business has incurred to purchase production factors during the production and business process. What type of cost is it?
Current cost (accounting cost)
Opportunity cost
Implicit cost
Economic cost
What type of cost is recorded in accounting books?
Accounting cost (current cost)
Hidden cost
Opportunity cost
All of the above costs
What are the expenses that cannot be expressed in specific monetary terms and therefore are not recorded in accounting books? That is the cost of?
Accounting costs
Hidden costs
Current costs
Provisions costs
There is a document reflecting the production situation of enterprise A as follows. When Q = 4, please determine the fixed cost (FC) and average variable cost (AVC)?
FC = 10 & AVC = 15
FC = 0 & AVC = 12
FC = 14 & AVC = 12
FC = 15 & AVC = 14
What is the formula for calculating marginal cost (MC)?
MC = TC / Q
MC = TC / P
MC = P * Q
MC = ∆TC / ∆Q
When the average cost (AC/ATC) increases with output, then:
MC < AC (ATC)
MC > AC (ATC)
MC = AC (ATC)
All of the above are incorrect
What is fixed cost (FC)?
It is the cost that changes when the output quantity Q changes.
It is the total cost of the business.
It is the cost that does not change when the output quantity Q changes.
All of the above are correct.
The short-term total cost (TC) function of a business includes what costs?
Fixed costs (FC)
Variable costs (VC)
Marginal costs (MC)
Fixed costs (FC) and variable costs (VC)
What is marginal cost (MC)?
The additional cost incurred when using one more unit of production factor
The additional cost incurred when using one more product
The additional cost in total cost when producing one more unit of product
It is the slope of total revenue
What is variable cost (VC)?
It is a cost that does not change when the output quantity Q changes.
It is the total cost that the business has to pay.
It is a cost that changes when the output quantity Q changes.
There is no correct answer.
The average total cost for 1 unit of product is denoted as?
AC
AFC
AVC
FC
The average fixed cost for 1 unit of product is denoted as?
FC
VC
ATC
AFC
The average variable cost for 1 unit of product is denoted as?
ATC
AFC
AVC
MC
Which curve does the MC curve intersect at the lowest point of that curve?
ATC
AVC
AFC
ATC and AVC
Which of the following roads has a U-shape?
Average Total Cost Curve (ATC)
Average Fixed Cost Curve (AFC)
Fixed Cost Curve (FC)
No correct answer
What is referred to as the "efficient scale" of a business?
The level of output at which average fixed cost (AFC) is at its lowest
The level of output at which average total cost (ATC) is at its highest
The level of output at which average variable cost (AVC) is at its highest
The level of output at which average total cost (ATC) is at its lowest
