What is the main role of economic profits?
Topic: The Production Process and Costs Quiz ( MCQ and Answer )
Which of the following is incorrect?
Which of the following is (are) true?
Which of the following is the main goal of a continuing company?
Basic principles that comprise good management include
Managerial economics
Economics
Other things equal, the greater the interest rate:
In the Wealth of Nations, Adam Smith argues that:
Under producer-producer rivalry, individual firms want to sell the product at the maximum price consumers will pay, but are unable to do this because of:
The behavior of bidders in an auction is an example of:
Negotiations between the buyer and seller of a new house is an example of:
If a producer offers a price that is in excess of a consumer’s valuation of the good, the consumer:
Suppose total benefits and total costs are given by B(Y) = 100Y – 8Y2 and C(Y) = 10Y2. What is the maximum level of net benefits?
Suppose total benefits and total costs are given by B(Y) = 100Y – 8Y2 and C(Y) = 10Y2. What level of Y will yield the maximum net benefits?
Suppose total benefits and total costs are given by B(Y) = 100Y – 8Y2 and C(Y) = 10Y2. Then marginal costs are:
Suppose total benefits and total costs are given by B(Y) = 100Y – 8Y2 and C(Y) = 10Y2. Then marginal benefits are:
Given the benefit function B(Y) = 400Y – 2Y2, the marginal benefit is:
Given the cost function C(Y) = 6Y2, what is the marginal cost?
In order to maximize net benefits, firms should produce where:
The difference between marginal benefits and marginal costs are the:
The change in net benefits that arise from a one unit change in quantity is the: