Sec 13.2 MC - Production and Costs

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1、1. Whichoftheseassumptionsisoftenrealisticforafirmintheshortrun? a. Thefirmcanvaryboththesizeofitsfactoryandthenumberofworkersitemploys. b. Thefirmcanvarythesizeofitsfactorybutnotthenumberofworkersitemploys. c. Thefirmcanvarythenumberofworkersitemploysbutnotthesizeofitsfactory. d. The

2、firmcanvaryneitherthesizeofitsfactorynorthenumberofworkersitemploys.ANSWER:  cDIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.020-Classifyafirm'scostsasfixedorvariable.TOPICS:  ProducertheoryProductionfunctionKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID:  001.13.2-MC-MANK082. Assumeacertain

3、firmregardsthenumberofworkersitemploysasvariablebutregardsthesizeofitsfactoryasfixed.Thisassumptionisoftenrealistic a. intheshortrunbutnotinthelongrun. b. inthelongrunbutnotintheshortrun. c. bothintheshortrunandinthelongrun. d. neitherintheshortrunnorinthelongrun.ANSWER:  aDIFFICULTY:

4、  EasyLEARNING OBJECTIVES:  ECON.MANK.020-Classifyafirm'scostsasfixedorvariable.TOPICS:  ProducertheoryProductionfunctionKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  002.13.2-MC-MANK083. Supposethata“doggiedaycare”firmusesonlytwoinputs:hourlyworkers(labor)andabuilding(capital).Inthesho

5、rtrun,thefirmmostlikelyconsiders a. bothlaborandcapitaltobefixed. b. bothlaborandcapitaltobevariable. c. labortobevariableandcapitaltobefixed. d. capitaltobevariableandlabortobefixed.ANSWER:  cDIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.020-Classifyafirm'scostsasfixedorvariable.T

6、OPICS:  ProducertheoryProductionfunctionKEYWORDS:  BLOOM'S:ComprehensionCUSTOM ID:  003.13.2-MC-MANK084. SupposethatChristineownsherownCPAfirm.Sheusesonlytwoinputsinherbusiness:herhoursworked(labor)andacomputer(capital).Intheshortrun,Christinemostlikelyconsiders a. bothlaborandcapital

7、tobefixed. b. bothlaborandcapitaltobevariable. c. capitaltobevariableandlabortobefixed. d. labortobevariableandcapitaltobefixed.CopyrightCengageLearning.PoweredbyCognero.Page 30ANSWER:  dDIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.020-Classifyafirm'scostsasfixedorvariable.TOPICS:

8、  Pro