4169880
Description
Quiz by 2016: Maria Jose, updated more than 1 year ago
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Created by 2016: Maria Jose
over 8 years ago
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Question 1
Question
which of these is an example of an external E.O.S.?
Answer
-
lack of communication within the companie
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buying in bulk to reduce costs
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area where the companie is located
Question 2
Question
In a diseconomy of scale the average cost may not always fall as the scale for production is increased
Answer
- True
- False
Question 3
Question
which of the following are fixed costs
Answer
-
rent
-
supplies
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salaries
-
wages
-
utilities
-
insurance
Question 4
Question
In an economy of scale the average cost of a product decreases as production
Answer
-
rises
-
falls
Question 5
Question
Utility is the satisfaction a consumer gets by [blank_start]purchasing[blank_end] a product
Answer
-
purchasing
-
consuming
-
using
Question 6
Question
The LRAC is made of the tangency points of several SRAFC
Answer
- True
- False
Question 7
Question
In the long run all inputs are [blank_start]variable[blank_end]
Answer
-
variable
Question 8
Question
Which of the following are a type of demand
Answer
-
effective
-
integral
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external
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latent
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income
-
composite
-
substitute
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derived
-
equilibrium
-
complementary
Question 9
Question
The substitution effect says that if the prices go up then you should keep purchasing those goods
Answer
- True
- False
Question 10
Question
if the price of substitute goods rise then the demand curve
Answer
-
shifts to the right
-
shifts to the left
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