Assignment 6 DUE OCT 30

Assignment 6 DUE OCT 30 - Assignment 6 DUE OCT 30 HEENA...

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Unformatted text preview: Assignment 6 DUE OCT 30 HEENA DESAI Started: October 23, 2009 3:54 PM Questions: 20 1. (Points: 1) Average fixed cost 1. is usually greater at lower levels of output than at higher levels. 2. does not change as output changes. 3. exists only in the short run. 4. is usually greater at higher levels of output than at lower levels of output. 5. 1 and 3 Save Answer 2. (Points: 1) Cy recently went into the business of producing and selling cardboard boxes. For this business, which of the following is most likely to be a fixed cost? 1. fire insurance 2. labor costs 3. paper costs 4. long-distance telephone costs 5. all are equally likely to be fixed costs Save Answer 3. (Points: 1) At 100 units of output, total cost is $30,000 and total variable cost is $14,000. What does average fixed cost equal at 100 units? 1. $300 2. $160 3. $140 4. There is not enough information to answer the question. Save Answer 4. (Points: 1) The change in total cost that results from a change in output is ____ cost. 1. marginal 2. average fixed 3. average variable 4. average total Save Answer 5. (Points: 1) The law of diminishing marginal returns holds for a situation in which 1. all inputs are fixed. 2. hiring more inputs reduces productivity....
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This note was uploaded on 11/08/2011 for the course ECON 1B03 taught by Professor Hannahholmes during the Fall '08 term at McMaster University.

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Assignment 6 DUE OCT 30 - Assignment 6 DUE OCT 30 HEENA...

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