Q1. A firm realizes that it is producing more than the profit maximizing level of output and makes a short-run decision to decrease its output. Which of the firm’s cost measures is least likely to decrease as a result? A) Average variable cost. B) Marginal cost. C) Average fixed cost.
Q2. Which of the following two factors are most likely to be considered variable during the short run? A) Labor and raw materials. B) Labor and technology. C) Raw materials and technology.
Q3. The short run is best defined as: A) the period for which the quantities of all factors of production are fixed. B) the time frame within which working capital decisions cannot be altered. C) the period for which the quantities of some resource inputs are fixed.
Q4. Which of the following factors of production is least likely to be fixed in the short run? A) Technology. B) Plant size. C) Labor. | 
发表于 2008-12-31 10:47
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