test2 study 1

test2 study 1 - MY COURSES > PRINCIPLES OF MICROECONOMICS >...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
MY COURSES > PRINCIPLES OF MICROECONOMICS > ASSIGNMENTS > REVIEW ASSESSMENT: HOMEWORK #4 Review Assessment: Homework #4 Name: Homework #4 Status: Completed Score: 22 out of 30 point(s) Time Elapsed: 26 minutes and 37 seconds out of 1 hours allowed. Instructions: Question 1 Multiple Choice 2 of 2 point(s) The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question(s). Reference: REF22138 Refer to the above information. The average total cost of 3 units of output is: Your Answer: $35. Correct Answer: $35. Feedback: E: 400 MI: 156 Topic: 5 Type: T Question 2 Multiple Choice 2 of 2 point(s) If a firm increases all of its inputs by 10 percent and its output increases by 15 percent, then: Your Answer: it is encountering economies of scale. Correct Answer: it is encountering economies of scale. Feedback: E: 406 MI: 162 Topic: 6 Type: A Question 3 Multiple Choice 2 of 2 point(s) If a firm increases all of its inputs by 10 percent and its output increases by 10 percent, then:
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Your Answer: it is encountering constant returns to scale. Correct Answer:
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/04/2008 for the course ECON 2023 taught by Professor Unknown during the Spring '05 term at Arkansas.

Page1 / 6

test2 study 1 - MY COURSES > PRINCIPLES OF MICROECONOMICS >...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online