Microeconomics Test 2 (83)

Microeconomics Test 2 (83) - AP Microeconomics Multiple...

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AP Microeconomics Multiple Choice: Choose the best answer to each question. Each question is worth an equal amount. The honor code applies to this test. The figure below depicts a production function for a firm that produces cookies. Use the figure to answer question 1. 1. As the number of workers increases: 2. Economies of scale occur when: A. Long-run average total costs rise as output increases B. Average fixed costs are falling C. Long-run average total costs fall as output increases D. Average fixed costs are constant Use the information for a competitive firm in the table below to answer questions 3-7. Quantity Total Revenue Total Cost 0 $ 0 $ 10
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1 9 14 2 18 19 3 27 25 4 36 32 5 45 40 6 54 49 7 63 59 8 72 70 9 81 82
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