Question

Question Completion Status: QUESTION 38 Marginal cost equals total cost divided by the quantity of output produced total output divided by the change in total cost the slope of the total cost curve the slope of the line drawn from the origin to the total cost curve QUESTION 39 wa firm produces nothing which of the following costs will be zero? - total cost faxed cost opportunity cost variable cost QUESTION 40 A production function is a relationship between Inputs and the quantity of output Inputs and revenue inputs and costs Inputs and profits QUESTION 41 The marginal product of labor is equal to Incremental costs associated with a one unit increase in labor incremental profit associated with a one unit increase in labor increases in labor necessary to generate a one-unit increase in output Increases in output obtained from a one unit increase in labor QUESTION 2 The difference between accounting profit and economic profit relates to the manner in which revenues are defined how total revenue is calculated the manner in which costs are defined the price of the good in the market QUESTION Total revenue minus implicit and explict costs is called accounting profit economic profit average total cost fed expenses QUESTION 4 Which of the following is an import cost? Salaries paid to owners who work for the firm Interest on money borrowed to finance equipment purchases cash payment for raw materials foregone rent on office space owned and used by the firm QUESTION 45 Cek Sow Submit and the S ANA to sow all

Answer 1

Question 38

Answer :the slope of the total cost curve.

Question 39

Answer :Variable Cost

Question 40

Answer :Inputs and quantity of output

Question 41

Answer :increase in output obtained from a one unit increase in labor.

Question 42

Answer :the manner in which costs are defined.

Question 43

Answer :economic profit

Question 44

Answer :Foregone rent on office space owned and used by the firm