AACSB Reflective Thinking 24 Jennifer Borts moves her office from the premises

Aacsb reflective thinking 24 jennifer borts moves her

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AACSB: Reflective Thinking 24) Jennifer Borts moves her office from the premises she rents at a local mall to her home. As a resultof this move A) Jenniferʹs implicit costs fall.B) Jenniferʹs opportunity costs fall.C) Jenniferʹs total costs fall.D) Jenniferʹs explicit costs fall and her implicit costs rise.Answer: D 24) Diff: 2 Page Ref: 356/356 Topic: Explicit and Implicit Costs Learning Outcome: Micro 12: Apply methods for measuring and analyzing the effects of inputs and costs on the supply curve AACSB: Reflective Thinking 25) The relationship between the inputs employed by a firm and the maximum output that it canproduce with those inputs is the firmʹs 25) Diff: 1 Page Ref: 357/357 Topic: The Production Function Learning Outcome: Micro 9: Discuss the fundamental characteristics of firms AACSB: Reflective Thinking 26) The Santa Fe Spark Plug Company supplies spark plugs to automotive parts dealers. An increasein the demand for its product led Santa Fe to hire 150 new workers. Santa Fe also plans to expandthe capacity of its plant but this project will take 2 years to complete. Which of the followingstatements is true? 26) Diff: 1 Page Ref: 356/356 Topic: The Short Run and the Long Run Learning Outcome: Micro 9: Discuss the fundamental characteristics of firms AACSB: Reflective Thinking 7
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27) Which of the following statements is true? 27) Diff: 1 Page Ref: 357/357 Topic: Explicit and Implicit Costs Learning Outcome: Micro 9: Discuss the fundamental characteristics of firms AACSB: Reflective Thinking
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  • Fall '13
  • AACSB, Page Ref, Reflective thinking

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