Ünite Sınavı Soruları

What do we call the costs for which no direct payments are made but a firm incurs them when it gives up the next best alternative action or project?

Which of the following is not a basic factor of production available to a society?

Which of the following is true If output increases by 150% when the factors used in a production process are increased by 100%?

What is the difference between total revenue and total cost called?

Which of the following is the ratio of change in total cost to a slight change in quantity?

What is the term used for the total cost divided by the amount of output produced?

What is the best alternative that we give up when we make a choice or a decision called?

What is APL?

What is the objective of a firm that produces a good?

What is the price times the quantity sold by the firm?

Which of the following is equal to the division of the total product by the quantity of labor employed?

Choose the option that completes the following sentence correctly.

"Profit is the difference between total revenue and total ..........."

Choose the option that completes the following sentence correctly.

".......... refer to the costs a firm incurs when it gives up the next best alternative action or project."

Which of the following is the price times the quantity sold by the firm?

Choose the option that completes the following entence correctly.

"The objective of a firm that produces a good or service is to maximize its ..........."

Which of the following statements is true when the marginal product of labor is equal to its average product in a production process?

The  level of production at which the economies of scale die out and constant returns to scale or diseconomies of scale set in is called?

When a company producing tanks increases its production amount from 12 units to 15 units, its marginal cost becomes 3 million dollars. If the firm's total initial cost was $75 million, how many million dollars did the firm spent to produce 15 units of tanks?

Choose the option that completes the following sentence correctly.

"The production process converts resources which are called .......... or factors of production into new goods and services called output over a period of time."

What does the behavior of TC and TVC depend on?