Free Online MCQ Practice Tests in English
The minimum average cost of producing alternate levels of output, allowing for optimal selection of all variables of production is defined by the:
Which of the following cost functions exhibits cost complementary?
For the cost function C(Q) = 200 + 3Q + 8Q2 + 4Q3, what is the average fixed cost of producing six units of output?
For the cost function C(Q) = 1000 + 14Q + 9Q2 + 3Q3, what is the marginal cost of producing the fourth unit of output?
What is implied when the total cost of producing Q1 and Q2 together is less than the total cost of producing Q1 and Q2 separately?
Given a cost function C(Q) = 200 + 14Q + 8Q2, what is the marginal cost function?
Which curve(s) does the marginal cost curve intersect at the (their) minimum point?
At what level of output is marginal cost minimized:
What is the marginal cost of producing 90 units of output?
What is the average total cost of producing 160 units of output?
What is the average variable cost of producing 50 units of output?
What is the total cost of producing 125 units of output?
Suppose you are a manager of a factory. You purchase five (5) new machines at one million dollars each. If you can resell two of the machines for $500,000 and three of the machines for $200,000, what are the sunk costs of purchasing the machines?
Costs that are forever lost after they have been paid are:
Costs that change as output changes are:
Fixed costs exist only in:
In order to minimize the cost of producing a given level of output, a firm manager should use more inputs when:
Which of the following sets of economic data is minimizing the cost of producing a given level of output?
Changes in the price of an input cause:
In order for isoquants to have a diminishing marginal rate of substitution they must be:
