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Which type of cost is this: The price per kg of raw material A drops for the portion in excess of 10000 kg

Kinked variable cost

Stepped variable cost

Stepped fixed cost

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A decrease in the price of a product (if demand is downward sloping) will lead to:

An increase in quantity demanded

A decrease in quantity demanded

An outward shift in demand

An outward shift in supply

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An example of a cost of capacity is:

Variable Overheads

Direct material cost

Direct labour cost

Rental on building

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Which of the two goods below represent complementary goods?

Tea and biscuits

Cake and biscuits

Hot chocolate and coffee

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Jane runs a bicycle courier service in Hamilton. She employs some high school students at $6 per delivery and charges customers $10 per delivery. The business operates on the weekdays only, 50 weeks a year. Rent for the office is $1,500 per month.----------What is the annual breakeven point, in number of deliveries?

4,500 deliveries

18,750 deliveries

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Diseconomies of scale occur when:

Marginal costs increase as output increases in

the long run.

Total costs increase as output increases in the

long run.

Unit costs increase as output increases in the

long run.

Fixed costs increase as output increases in the

long run.

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An example of government policy conflict might be:

More spending to increase growth and reduce unemployment

Lower interest rates leading to more employment and more growth

Lower taxation leading to more growth and lower unemployment

An increase in demand leading to less unemployment and higher prices

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For a Variable Cost:

The per unit amount decreases as the number of units increases

The per unit amount increases in proportion to the number of units

The total amount stays the same as the number of units increases

The total amount increases in proportion to the number of units

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If an economy is

producing within its Production Possibility Frontier:

Customers are

spending too much.

It is productively

inefficient.

Firms are maximizing profits.

The economy's

resources are fully employed.

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"We need to

redistribute income to make it “fairer" is an example of a:

Keynesian economic

statement.

Normative economic

statement.

Mixed economic

statement.

Positive economic

statement.

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