{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

microchp10 - POP QUIZ WORKSHEET 3 CHAPTER 10 NAME COURSE 1...

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

View Full Document Right Arrow Icon
Image of page 1

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

View Full Document Right Arrow Icon
POP QUIZ WORKSHEET 3 : CHAPTER 10 NAME: __________________________________ COURSE: ________________________________ 1. Technical efficiency: a. means the same thing as economic efficiency. b. means that as few inputs as possible are used to produce a given output. c. is that method that produces a given level of output at the lowest possible cost. d. has nothing to do with labor-intensive inputs. 2. Economic efficiency: a. means the same thing as technical efficiency. b. means that as few inputs as possible are used to produce a given output. c. is that method that produces a given level of output at the lowest possible cost. d. has nothing to do with labor-intensive inputs. 3. Economies of scale: a. mean per-unit costs increase as output increases in the long run. b. are caused by loss of team spirit as a firm expands in size. c. is the result of mismeasurement of opportunity costs. d. occur when per unit costs increase as one input is added to production.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern