A. is liner (a straight line)
B. could be any of these answers
C. becomes steeper as the quantity of output increases
D. become flatter as the quantity of output increases.
Related Mcqs:
- If as the quantity produced increase a production function first exhibits increasing marginal product and later diminishing marginal product, the corresponding marginal-cost curve will ?
A. be flat (horizontal)
B. slope upward
C. slope downward
D. be U-shaped. - If a production function exhibits diminishing marginal product. its slope ?
A. is linear (a straight line)
B. becomes steeper as the quantity of the input increase
C. could be any of these answers
D. becomes flatter as the quantity of the input increase - The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve ?
A. At their lowest points
B. When they are declining
C. When they are increasing
D. When marginal revenue is zero - If a factor exhibits diminishing marginal product, hiring additional units of the factor will ?
A. cause a reduction is output
B. have no effect on output
C. increase the marginal product of the factor
D. generate ever smaller amounts of output - In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?
A. Upward-sloping portion of the average total cost curve
B. upward-sloping portion of the average variable cost curve
C. portion of the marginal cost curve that lies above the average total cost curve.
D. entire marginal cost curve.
E. portion of the marginal-cost curve that lies above the average variable cost curve - If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?
A. 160; 270
B. 10; 30
C. 10; 3.33
D. 30; 10 - When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?
A. greater than average cost, greater than average cost
B. less than average cost, greater than average cost
C. less than average cost, less than average cost
D. greater than average cost, less than average cost - If goods are exported for less than society’s marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from?
A. an import subsidy
B. a quota
C. comparative advantage
D. an export subsidy - The slope of marginal revenue curve is ?
A. always equal to one.
B. half as steep as the demand curve
C. the same as the slope of the demand curve
D. twice as steep as the demand curve - Suppose we measure the quantity of good X on the horizontal axis and the quantity of good Y on the vertical axis If indifference curves are bowed inward, as we move from having an abundance of good X to having an abundance of good Y, the marginal rate of substitution of good Y for good X (the slope of the indifference curve) ?
A. rises
B. stays the same
C. could rise or fall depending on the relative prices of the two goods.
D. falls
