2016: Maria Jose
Quiz by , created more than 1 year ago

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2016: Maria Jose
Created by 2016: Maria Jose almost 9 years ago
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Micro Semester Exam Questions

Question 1 of 10

1

which of these is an example of an external E.O.S.?

Select one of the following:

  • lack of communication within the companie

  • buying in bulk to reduce costs

  • area where the companie is located

Explanation

Question 2 of 10

1

In a diseconomy of scale the average cost may not always fall as the scale for production is increased

Select one of the following:

  • True
  • False

Explanation

Question 3 of 10

1

which of the following are fixed costs

Select one or more of the following:

  • rent

  • supplies

  • salaries

  • wages

  • utilities

  • insurance

Explanation

Question 4 of 10

1

In an economy of scale the average cost of a product decreases as production

Select one of the following:

  • rises

  • falls

Explanation

Question 5 of 10

1

Utility is the satisfaction a consumer gets by a product

Drag and drop to complete the text.

    purchasing
    consuming
    using

Explanation

Question 6 of 10

1

The LRAC is made of the tangency points of several SRAFC

Select one of the following:

  • True
  • False

Explanation

Question 7 of 10

1

Fill the blank space to complete the text.

In the long run all inputs are

Explanation

Question 8 of 10

1

Which of the following are a type of demand

Select one or more of the following:

  • effective

  • integral

  • external

  • latent

  • income

  • composite

  • substitute

  • derived

  • equilibrium

  • complementary

Explanation

Question 9 of 10

1

The substitution effect says that if the prices go up then you should keep purchasing those goods

Select one of the following:

  • True
  • False

Explanation

Question 10 of 10

1

if the price of substitute goods rise then the demand curve

Select one of the following:

  • shifts to the right

  • shifts to the left

Explanation

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