题目内容

4) The budget line

A. a. determines an individual’s optimal consumption basket.
B. b. will not shift at all if the prices of both commodities increase and income is unchanged.
C. c. determines an individual’s possible consumption baskets.
D. d. is a straight line whose slope is given by the rate of inflation.

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5) Marginal cost equals

A. a. total cost divided by total output.
B. b. the change in total cost associated with an additional unit of output.
C. c. the change in average cost.
D. d. the slope of the average cost curve.

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6) An economist’s definition of profit differs from that of an accountant because

A. a. the economist is only interested in marginal cost and marginal revenue.
B. b. the economist includes the opportunity cost of owner-supplied inputs in total cost.
C. c. accountants cannot maximize.
D. d. economists cannot add or subtract correctly.

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7) An increase in fixed cost will affect which of the following?

A. a. Marginal cost.
B. b. Average variable cost.
C. c. Average total cost.
D. d. Marginal revenue.

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8) A firm will shut down in the short run if

A. a. P < AVC
B. b. P > AVC
C. c. P < MC
D. d. P > MC

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4) The budget line

A. a. determines an individual’s optimal consumption basket. B. b. will not shift at all if the prices of both commodities increase and income is unchanged. C. c. determines an individual’s possible consumption baskets. D. d. is a straight line whose slope is given by the rate of inflation.

5) Marginal cost equals

6) An economist’s definition of profit differs from that of an accountant because

7) An increase in fixed cost will affect which of the following?

8) A firm will shut down in the short run if

A. a. determines an individual’s optimal consumption basket.
B. b. will not shift at all if the prices of both commodities increase and income is unchanged.
C. c. determines an individual’s possible consumption baskets.
D. d. is a straight line whose slope is given by the rate of inflation.