12 The Costs of Production

《12 The Costs of Production》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。

1、Chapter13/TheCostsofProductionF411Chapter13TheCostsofProductionMultipleChoice1.Accordingtothelawofsupply,a.firms’productionlevelsarenotcorrelatedwiththepriceofagood.b.thesupplycurveslopesdownward.c.firmsarewillingtoproduceagreaterquantityofagoodwhenthepriceofthegoodishig

2、her.d.Noneoftheabovearecorrect.ANSWER:c.firmsarewillingtoproduceagreaterquantityofagoodwhenthepriceofthegoodishigher.TYPE:MDIFFICULTY:2SECTION:13.12.Industrialorganizationisthestudyofhowa.laborunionsorganizeworkersinindustries.b.profitablefirmsareinorganizedindustries.c.

3、industriesorganizeforpoliticaladvantage.d.firms’decisionsregardingpricesandquantitiesdependonthemarketconditionstheyface.ANSWER:d.firms’decisionsregardingpricesandquantitiesdependonthemarketconditionstheyface.TYPE:MDIFFICULTY:1SECTION:13.13.Economistsnormallyassumethatth

4、egoalofafirmisto(i)sellasmuchoftheirproductaspossible.(ii)setthepriceoftheirproductashighaspossible.(iii)maximizeprofit.a.(i)and(ii)b.(ii)and(iii)c.(iii)onlyd.Alloftheabovearecorrect.ANSWER:c.(iii)onlyTYPE:MDIFFICULTY:2SECTION:13.14.Theamountofmoneythatafirmreceivesfromt

5、hesaleofitsoutputiscalleda.totalgrossprofit.b.totalnetprofit.c.totalrevenue.d.netrevenue.ANSWER:c.totalrevenue.TYPE:MDIFFICULTY:1SECTION:13.15.Theamountofmoneythatafirmpaystobuyinputsiscalleda.totalcost.b.variablecost.c.marginalcost.d.fixedcost.ANSWER:a.totalcost.TYPE:MD

6、IFFICULTY:1SECTION:13.1Chapter13/TheCostsofProductionF4116.Profitisdefinedasa.netrevenueminusdepreciation.b.totalrevenueminustotalcost.c.averagerevenueminusaveragetotalcost.d.marginalrevenueminusmarginalcost.ANSWER:b.totalrevenueminustotalcost.TYPE:MDIFFICULTY:1SECTION:1

7、3.17.Whichofthefollowingcanbeaddedtoprofittoobtaintotalrevenue?a.netprofitb.capitalprofitc.operationalprofitd.totalcostANSWER:d.totalcostTYPE:MDIFFICULTY:2SECTION:13.18.Economistsnormallyassumethatthegoalofafirmisto(i)makeprofitaslargeaspossibleevenifitmeansreducingoutpu

8、t.(ii)makeprofitaslargeaspossibleevenifitmeansincurringahighertotalcost.(iii)makerevenueaslargeaspossib