Multiple Choice
-The firm depicted in Figure 7-10 currently is producing 200 units of output per day.If it decides to increase its output level to 375 units,then it will
A) adjust from point F to point G in the short run
B) be unable to adjust to point G in the short run because some inputs are fixed
C) be unable to adjust to point G in the long run because some are fixed
D) be unable to adjust to point H in the short run because some inputs are fixed
E) adjust from point F to point H in the long run
Correct Answer:
Verified
Correct Answer:
Verified
Q17: Marginal product is the change in output
Q18: As a firm increases its output in
Q19: The law of diminishing marginal returns says
Q20: The minimum points of the average variable
Q21: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -In Figure 7-4,marginal
Q23: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -Figure 7-1 shows
Q24: The marginal product of labor is the<br>A)total
Q25: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -Figure 7-1 shows
Q26: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -Figure 7-7 shows
Q27: Average Fixed Cost is the<br>A)horizontal distance (at