Q1. Which of the following most accurately describes the relationship between marginal cost (MC), average variable cost (AVC), marginal product (MP), and average product (AP)? A) When MP = AP, MC = AVC. B) When MP > AP, MC > AVC. C) When MP = AP, MC > AVC.
Q2. Which of the following most accurately describes the relationship between the average total cost (ATC) curve and the average variable cost (AVC) curve? The vertical distance between the ATC and AVC curves: A) decreases as output increases. B) increases as output increases. C) increases and then decreases as output increases.
Q3. Which of the following statements regarding marginal costs (MC) and average variable costs (AVC) is most accurate?
A) MC = AVC when AVC is at its minimum. B) MC = AVC when average total cost is at its minimum. C) MC = Average total cost when AVC is at its minimum.
Q4. Which of the following most accurately describes the shapes of the average variable cost (AVC) and average total cost (ATC) curves? A) The AVC and ATC curves are both U-shaped. B) The AVC curve is U-shaped whereas the ATC curve declines initially then flattens. C) The AVC and ATC curves both decrease initially, and then flatten.
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发表于 2008-12-31 15:15
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