Economics 12E - Arnold - TB_165

Economics 12E - Arnold - TB_165 - physical product(MPP of Y...

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physical product (MPP) of Y is constant, it follows that the a. marginal cost curve is upward sloping. b. total fixed cost curve is vertical. c. total variable cost curve is downward sloping. d. b and c e. none of the above ANSWER: e POINTS: 1 DIFFICULTY: Challenging NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Costs of production KEYWORDS: Bloom's: Comprehension 169. If the marginal cost curve for a firm first declines and then rises, it follows that the MPP of the variable input a. is constant. b. first declines and then rises. c. first rises and then declines. d. continually declines. e. none of the above ANSWER: c POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Costs of production KEYWORDS: Bloom's: Comprehension 170. Average productivity of labor equals POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Costs of production
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KEYWORDS: Bloom's: Comprehension
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  • Spring '11
  • Lee
  • Economics, Economics of production, Default City

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