Review Game Zone
Games
Test
Preview
Back
Match it!
Match it! Select the correct answer from the pull down...Good luck!
We calculate marginal product by:
Average Total Cost to fall.
Smaller than an accounting profit because it includes implicit costs.
the firm's marginal cost, average variable cost, and average total cost will increase.
Subtracting the difference between the total products for two levels of production.
The fixed costs.
Diseconomies of Scale.
average fixed cost.
$1075
If everything else is held constant, if a firm's variable inputs increase,
Average Total Cost to fall.
Smaller than an accounting profit because it includes implicit costs.
the firm's marginal cost, average variable cost, and average total cost will increase.
Subtracting the difference between the total products for two levels of production.
The fixed costs.
Diseconomies of Scale.
average fixed cost.
$1075
A local corporation increases it's inputs by 7% and gets a 5% increase in product. The firm is operating under:
Average Total Cost to fall.
Smaller than an accounting profit because it includes implicit costs.
the firm's marginal cost, average variable cost, and average total cost will increase.
Subtracting the difference between the total products for two levels of production.
The fixed costs.
Diseconomies of Scale.
average fixed cost.
$1075
In the short-run, Wednesday's Widgets is producing 100 units of output. It's average variable costs are $10 and average fixed costs are $0.75. Its total costs are:
Average Total Cost to fall.
Smaller than an accounting profit because it includes implicit costs.
the firm's marginal cost, average variable cost, and average total cost will increase.
Subtracting the difference between the total products for two levels of production.
The fixed costs.
Diseconomies of Scale.
average fixed cost.
$1075
An economic profit is usually:
Average Total Cost to fall.
Smaller than an accounting profit because it includes implicit costs.
the firm's marginal cost, average variable cost, and average total cost will increase.
Subtracting the difference between the total products for two levels of production.
The fixed costs.
Diseconomies of Scale.
average fixed cost.
$1075
Let's assume that a firm is losing money, so they decide not to produce anything in the short run. The firms costs would be:
Average Total Cost to fall.
Smaller than an accounting profit because it includes implicit costs.
the firm's marginal cost, average variable cost, and average total cost will increase.
Subtracting the difference between the total products for two levels of production.
The fixed costs.
Diseconomies of Scale.
average fixed cost.
$1075
Let's assume that a new employee training program increases labor productivity. We would expect
Average Total Cost to fall.
Smaller than an accounting profit because it includes implicit costs.
the firm's marginal cost, average variable cost, and average total cost will increase.
Subtracting the difference between the total products for two levels of production.
The fixed costs.
Diseconomies of Scale.
average fixed cost.
$1075
If we take ATC and subtract AVC, we would get:
Average Total Cost to fall.
Smaller than an accounting profit because it includes implicit costs.
the firm's marginal cost, average variable cost, and average total cost will increase.
Subtracting the difference between the total products for two levels of production.
The fixed costs.
Diseconomies of Scale.
average fixed cost.
$1075
Check it!
Match it!
Match it!