01 Jun Question Managers in determining the rate of output which maximizes profits must consider
Question
Managers in determining the rate of output which maximizes profits must consider
Respuesta
a. total cost function
b. sunk costs
c. total variable cost function
d. alternatives b and c
At an automobile assembly plant XYZ the progress ratio of 0.9 is used as a metric for learning. At the plant workers assembled 1,000 cars of model BW, and the average total cost is $25,000. What is the learning rate or experience rate?
Respuesta
a. 1%
b. 9%
c. 8%
d. 10%
If a firm doubles the amount of inputs used in production and as a result output has more than doubled, then the firm is experiencing
Respuesta
a. constant returns to scale
b. diseconomies of scale
c. diminishing returns to scale
d. economies of scale
Suppose that a company has the following total cost function: TC = 2Q2 – 10Q + 200.
The total fixed cost function (TFC) is:
Respuesta
a. 2Q – 10 + 200/Q
b. 4Q – 10
c. 200/Q
d. 200
Pregunta 7
Which of the following costs are ignored when making managerial decisions?
Respuesta
a. marginal costs
b. sunk costs
c. relevant costs
d. incremental costs
Average total costs is minimum when
Respuesta
a. marginal cost is declining
b. average cost equals marginal cost
c. average total cost is greater than marginal cost
d. marginal costs is greater than average total costs
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