Janet's poodle grooming salon has a total cost curve expressed by the equation TC = 100 + 3Q2, where Q is the quantity of dogs groomed. Given this expression, Janet is operating in the:

A) long run. B) short run, and her fixed costs are $100. C) long run, and her fixed costs are $100. D) short run, and there are no fixed costs. A) long run. B) short run, and her fixed costs are $100. C) long run, and her fixed costs are $100. D) short run, and there are no fixed costs.

Exam 11: Behind the Supply Curve: Inputs and Costs

Use the following to answer questions: -(Table: Tonya's Production Function for Apples) Look at the table Tonya's Production Function for Apples. The marginal product of the fourth worker is _____ apples.

(Multiple Choice)

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Question 181

If two firms are identical in all respects except that one has more of the fixed input capital than another, the total product curve for the firm with more capital:

(Multiple Choice)

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Question 182

Use the following to answer question: Table: Linda's Copy Shop Production -(Table: Linda's Copy Shop Production) Look at the table Linda's Copy Shop Production. Linda's production runs into diminishing returns to her variable inputs when she employs the _____ unit.

(Multiple Choice)

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Question 183

A planning period during which all of a firm's resources are variable is the _____ run.

(Multiple Choice)

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Question 184

Use the following to answer questions: -(Table: Costs of Birthday Cakes) Look at the table Costs of Birthday Cakes. Assume that fixed costs are $10. What is the marginal cost of the fifth cake?

(Multiple Choice)

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Question 185

When a firm has diminishing marginal returns:

(Multiple Choice)

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Question 186

Use the following to answer questions: Figure: A Firm's Cost Curves -(Figure: A Firm's Cost Curves) Look at the figure A Firm's Cost Curves. The curve X represents the firm's _____ cost curve.

(Multiple Choice)

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Question 187

Use the following to answer questions: -(Figure and Table: Variable, Fixed, and Total Costs) Look at the figure and table Variable, Fixed, and Total Costs. When 96 bushels of wheat is produced, the average fixed cost is ___, average variable cost is _, and average total cost is ___.

(Multiple Choice)

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Question 188

A firm employs capital as a fixed input and labor as a variable input in the short run. If the cost of capital falls, what will happen to the AVC, ATC, and MC curves? Explain.

(Essay)

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Question 189

The level of inputs a firm employs will determine a firm's:

(Multiple Choice)

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Question 190

Total cost divided by the quantity of output produced is:

(Multiple Choice)

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Question 191

Janet's poodle grooming salon has a total cost curve expressed by the equation TC = 100 + 3Q²,where Q is the quantity of dogs groomed. Given this expression, Janet is operating in the:

(Multiple Choice)

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Question 192

Krista's dry-cleaning business incurs $900 per month in fixed costs. Last month her total output was 3,000 pounds of clothes. This month her total output fell to 2,700 pounds. This means her average fixed cost _ by a little more than _.

(Multiple Choice)

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Question 193

When returns are diminishing, the marginal cost curve is upward-sloping.

(True/False)

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Question 194

The slope of a long-run average total cost curve exhibiting diseconomies of scale is:

(Multiple Choice)

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Question 195

The curve that shows the additional cost of each additional unit of output is called the _____ curve.

(Multiple Choice)

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Question 196

Use the following to answer questions: -(Table: Total Cost Data) Look at the table Total Cost Data. What is the total fixed cost for this bicycle firm?

(Multiple Choice)

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Question 197

Use the following to answer questions: -(Table: Production Function for Soybeans) Look at the table Production Function for Soybeans. Assume that the fixed input, capital, is 10 acres of land and a tractor, which have a combined cost of $150 per day. The cost of labor is $100 per worker per day. The total cost of producing 75 bushels of soybeans is:

(Multiple Choice)

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Question 198

For Heidi, the marginal cost of producing one additional photograph equals the change in _ divided by the change in the _ of photographs.

(Multiple Choice)

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Question 199

Cindy operates Birds-R-Us, a small store manufacturing and selling 100 bird feeders per month. Cindy's monthly total fixed costs are $500, and her monthly total variable costs are $2,500. If for some reason Cindy's fixed cost fell to $400, then her _ costs would _.

(Multiple Choice)

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Question 200

Showing 181 - 200 of 362

Use the following to answer questions: -(Table: Tonya's Production Function for Apples) Look at the table Tonya's Production Function for Apples. The marginal product of the fourth worker is _____ apples.

If two firms are identical in all respects except that one has more of the fixed input capital than another, the total product curve for the firm with more capital:

Use the following to answer question: Table: Linda's Copy Shop Production -(Table: Linda's Copy Shop Production) Look at the table Linda's Copy Shop Production. Linda's production runs into diminishing returns to her variable inputs when she employs the _____ unit.

A planning period during which all of a firm's resources are variable is the _____ run.

Use the following to answer questions: -(Table: Costs of Birthday Cakes) Look at the table Costs of Birthday Cakes. Assume that fixed costs are $10. What is the marginal cost of the fifth cake?

When a firm has diminishing marginal returns:

Use the following to answer questions: Figure: A Firm's Cost Curves -(Figure: A Firm's Cost Curves) Look at the figure A Firm's Cost Curves. The curve X represents the firm's _____ cost curve.

Use the following to answer questions: -(Figure and Table: Variable, Fixed, and Total Costs) Look at the figure and table Variable, Fixed, and Total Costs. When 96 bushels of wheat is produced, the average fixed cost is ___, average variable cost is _, and average total cost is ___.

A firm employs capital as a fixed input and labor as a variable input in the short run. If the cost of capital falls, what will happen to the AVC, ATC, and MC curves? Explain.

The level of inputs a firm employs will determine a firm's:

Total cost divided by the quantity of output produced is:

Janet's poodle grooming salon has a total cost curve expressed by the equation TC = 100 + 3Q²,where Q is the quantity of dogs groomed. Given this expression, Janet is operating in the:

Krista's dry-cleaning business incurs $900 per month in fixed costs. Last month her total output was 3,000 pounds of clothes. This month her total output fell to 2,700 pounds. This means her average fixed cost _ by a little more than _.

When returns are diminishing, the marginal cost curve is upward-sloping.

The slope of a long-run average total cost curve exhibiting diseconomies of scale is:

The curve that shows the additional cost of each additional unit of output is called the _____ curve.

Use the following to answer questions: -(Table: Total Cost Data) Look at the table Total Cost Data. What is the total fixed cost for this bicycle firm?

For Heidi, the marginal cost of producing one additional photograph equals the change in _ divided by the change in the _ of photographs.

Cindy operates Birds-R-Us, a small store manufacturing and selling 100 bird feeders per month. Cindy's monthly total fixed costs are $500, and her monthly total variable costs are $2,500. If for some reason Cindy's fixed cost fell to $400, then her _ costs would _.

First Principles

Economic Models: Trade-Offs and Trade 25

Supply and Demand

Consumer and Producer Surplus

Price Controls and Quotas: Meddling With Markets

Elasticity

Taxes

International Trade

Decision Making by Individuals Firms

The Rational Consumer

Perfect Competition and the Supply Curve

Monopoly

Oligopoly

Monopolistic Competition and Product Differentiation

Externalities

Public Goods Common Resources

The Economics of the Welfare

Factor Markets and the Distribution of Income

Uncertainty, Risk, and Private Information

Filters

Exam 11: Behind the Supply Curve: Inputs and Costs

Use the following to answer questions: -(Table: Tonya's Production Function for Apples) Look at the table Tonya's Production Function for Apples. The marginal product of the fourth worker is _____ apples.

If two firms are identical in all respects except that one has more of the fixed input capital than another, the total product curve for the firm with more capital:

Use the following to answer question: Table: Linda's Copy Shop Production -(Table: Linda's Copy Shop Production) Look at the table Linda's Copy Shop Production. Linda's production runs into diminishing returns to her variable inputs when she employs the _____ unit.

A planning period during which all of a firm's resources are variable is the _____ run.

Use the following to answer questions: -(Table: Costs of Birthday Cakes) Look at the table Costs of Birthday Cakes. Assume that fixed costs are $10. What is the marginal cost of the fifth cake?

When a firm has diminishing marginal returns:

Use the following to answer questions: Figure: A Firm's Cost Curves -(Figure: A Firm's Cost Curves) Look at the figure A Firm's Cost Curves. The curve X represents the firm's _____ cost curve.

Use the following to answer questions: -(Figure and Table: Variable, Fixed, and Total Costs) Look at the figure and table Variable, Fixed, and Total Costs. When 96 bushels of wheat is produced, the average fixed cost is _____, average variable cost is _____, and average total cost is _____.

A firm employs capital as a fixed input and labor as a variable input in the short run. If the cost of capital falls, what will happen to the AVC, ATC, and MC curves? Explain.

The level of inputs a firm employs will determine a firm's:

Total cost divided by the quantity of output produced is:

Janet's poodle grooming salon has a total cost curve expressed by the equation TC = 100 + 3Q2, where Q is the quantity of dogs groomed. Given this expression, Janet is operating in the:

Krista's dry-cleaning business incurs $900 per month in fixed costs. Last month her total output was 3,000 pounds of clothes. This month her total output fell to 2,700 pounds. This means her average fixed cost _____ by a little more than _____.

When returns are diminishing, the marginal cost curve is upward-sloping.

The slope of a long-run average total cost curve exhibiting diseconomies of scale is:

The curve that shows the additional cost of each additional unit of output is called the _____ curve.

Use the following to answer questions: -(Table: Total Cost Data) Look at the table Total Cost Data. What is the total fixed cost for this bicycle firm?

For Heidi, the marginal cost of producing one additional photograph equals the change in _____ divided by the change in the _____ of photographs.

Cindy operates Birds-R-Us, a small store manufacturing and selling 100 bird feeders per month. Cindy's monthly total fixed costs are $500, and her monthly total variable costs are $2,500. If for some reason Cindy's fixed cost fell to $400, then her _____ costs would _____.

First Principles

Economic Models: Trade-Offs and Trade 25

Supply and Demand

Consumer and Producer Surplus

Price Controls and Quotas: Meddling With Markets

Elasticity

Taxes

International Trade

Decision Making by Individuals Firms

The Rational Consumer

Perfect Competition and the Supply Curve

Monopoly

Oligopoly

Monopolistic Competition and Product Differentiation

Externalities

Public Goods Common Resources

The Economics of the Welfare

Factor Markets and the Distribution of Income

Uncertainty, Risk, and Private Information

Filters

Use the following to answer questions: -(Figure and Table: Variable, Fixed, and Total Costs) Look at the figure and table Variable, Fixed, and Total Costs. When 96 bushels of wheat is produced, the average fixed cost is ___, average variable cost is _, and average total cost is ___.

Janet's poodle grooming salon has a total cost curve expressed by the equation TC = 100 + 3Q²,where Q is the quantity of dogs groomed. Given this expression, Janet is operating in the:

Krista's dry-cleaning business incurs $900 per month in fixed costs. Last month her total output was 3,000 pounds of clothes. This month her total output fell to 2,700 pounds. This means her average fixed cost _ by a little more than _.

For Heidi, the marginal cost of producing one additional photograph equals the change in _ divided by the change in the _ of photographs.

Cindy operates Birds-R-Us, a small store manufacturing and selling 100 bird feeders per month. Cindy's monthly total fixed costs are $500, and her monthly total variable costs are $2,500. If for some reason Cindy's fixed cost fell to $400, then her _ costs would _.