02 Jun Question 1 Other things held constant, consumer surplus increases as:
Question
1 Other things held constant, consumer surplus increases as:
The price of a good decreases.
The price of a good increases.
The supply curve shifts to the left.
None of the above.
2. When there are diseconomies of scope between two products that are separately
produced by two firms, merging into a single firm can:
accomplish an increase in sales.
accomplish a reduction in costs.
lead to an increase in cost.
lead to a reduction in sales.
3. For a cost function C = 100 + 5Q + 2Q2, the average variable cost of
producing 10 units of output is:
1
2
3
N
4. Other things held constant, producer surplus decreases as:
The price of a good decreases.
The price of a good increases.
The demand curve shifts upward.
None of the above.
5. Managerial economics:
h
h
is
A
6. The change in benefits that arises from a one-unit change in quantity is
the:
m
m
to
v
7. Economic profits are:
th
a
th
to
8. A curve that defines the minimum average cost of producing different
levels of output (allowing for optimal selection of all variables of
production) is:
lo
lo
s
s
9. Other things held constant, consumer surplus decreases as:
T
T
T
N
10 Suppose the cost function is C(Q) = 100 + Q ? 2Q2 + 2Q3. What are the
fixed costs?
$
$
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