Crowdly
Додати до Chrome
Questions Bank (1305059 total)
In the foreign exchange market, a change in which of the following will result in a movement along the demand curve for Canadian dollars?
the exchange rate
0%
the expected future exchange rate
0%
the Canadian interest rate
0%
the U.S. interest rate
0%
an increase in Canadian exports
0%
Переглянути це питання
Which one of the following items is included in the firm's implicit rental rate of capital?
the cost of rented resources
0%
the cost of raw materials bought in the market
0%
the cost of electricity used by the firm
0%
the cost of labour hired by the firm
0%
economic depreciation of the firm's capital
0%
Переглянути це питання
What is the law of diminishing marginal returns?
The law of diminishing marginal returns refers to the tendency for the firm's ________ to eventually decrease as more labour is employed, everything else remaining the same.
marginal product of labour
✅
average total cost
❌
marginal cost
❌
total product
❌
average product of labour
❌
Переглянути це питання
Table 10.3.1
Refer to Table 10.3.1, which gives Tania's Teapots' total cost schedule. What is the firm's average fixed cost of producing 9 teapots per day?
$10.00 per teapot
0%
$1.11 per teapot
0%
$1.25 per teapot
❌
$1.54 per teapot
0%
$2.22 per teapot
0%
Переглянути це питання
Flora's Flowers bought a new van last year for $10,000 and it can now sell the van for $8,500. But to buy this year's model of the same van it would have to pay $11,000. What is the one-year amount of economic depreciation?
$2,500
100%
$1,000
0%
$10,000
0%
$1,500
0%
$3,500
0%
Переглянути це питання
Figure 10.4.1
Refer to Figure 10.4.1, which illustrates a firm's total product curves for four different plant sizes as it varies the quantities of capital and labour employed. Which curve shows the plant size which uses the largest quantity of capital?
plant
B
0%
plant
D
100%
plant
A
0%
plant
C
0%
all four plant sizes because each uses identical capital, just different quantities of labour
0%
Переглянути це питання
Table 10.2.2
Refer to Table 10.2.2 which gives Rob's Repair Shop's total product schedule. When Rob's employs four workers, what is Rob's Repair Shop's average product?
8 repairs per worker
0%
2 repairs per worker
0%
3.75 repairs per worker
0%
15 repairs per worker
0%
12 repairs per worker
100%
Переглянути це питання
As the firm increases its output, how does the firm's marginal cost of production change?
Marginal cost
decreases until it reaches its minimum value and then increases.
100%
increases until it reaches its maximum value and then remains constant.
0%
decreases until it reaches its minimum value and then remains constant.
0%
increases by smaller and smaller amounts.
0%
decreases by smaller and smaller amounts.
0%
Переглянути це питання
Which of the following statements is correct?
The firm's average variable cost of production is at a minimum when the firm's
average product of labour is at a maximum.
✅
average product of labour is at a minimum.
❌
marginal product of labour is at a minimum.
❌
marginal cost of production is at a minimum.
❌
marginal product of labour is at a maximum.
❌
Переглянути це питання
Which of the following situations arises when the marginal product of labour is greater than the average product of labour?
The firm is experiencing diminishing marginal returns.
❌
The total product curve is negatively sloped.
❌
The firm is experiencing constant returns.
❌
The marginal product of labour is increasing.
❌
The average product of labour is increasing.
✅
Переглянути це питання
Попередня
1
Більше сторінок
122209
122210
122211
122212
122213
Більше сторінок
130506
Наступна
Telegram
Instagram
TikTok
Question Bank
Умови використання
Зв'яжіться з нами
Додати до Chrome