简答题In the long run a company that produces and sells kayaks incurs total costs of 20,000 when output is 40 kayaks. The kayak company exhibits A、diseconomies of scale because total cost is rising as output rises. B、constant returns to scale because average total cost is constant as output rises. C、diseconomies of scale because average total cost is rising as output rises. D、economies of scale because average total cost is falling as output rises.简答题A firm's opportunity costs of production are equal to its A、explicit costs only. B、implicit costs only. C、explicit costs + implicit costs. D、explicit costs + implicit costs + total revenue.简答题Analyzing the behavior of the firm enhances our understanding of A、what decisions lie behind the market supply curve. B、how consumers allocate their income to purchase scarce resources. C、how financial institutions set interest rates. D、whether resources are allocated fairly.简答题Trevor’s Tire Company produced and sold 500 tires. The average cost of production per tire was 65. Trevor’s Tire Company’s total profits are A、25,000. C、67,500.简答题The total cost to the firm of producing zero units of output is A、zero in both the short run and the long run. B、its fixed cost in the short run and zero in the long run. C、its fixed cost in both the short run and the long run. D、its variable cost in both the short run and the long run.简答题Suppose a certain firm is able to produce 165 units of output per day when 15 workers are hired. The firm is able to produce 181 units of output per day when 16 workers are hired, holding other inputs fixed. The marginal product of the 16th worker is A、10 units of output. B、11 units of output. C、16 units of output. D、181 units of output.简答题When a firm's only variable input is labor, then the slope of the production function measures the A、quantity of labor. B、quantity of output. C、total cost. D、marginal product of labor.简答题Suppose that Christine owns her own CPA firm. She uses only two inputs in her business: her hours worked (labor) and a computer (capital). In the short run, Christine most likely considers A、both labor and capital to be fixed. B、both labor and capital to be variable. C、capital to be variable and labor to be fixed. D、labor to be variable and capital to be fixed.简答题Economies of scale arise when A、an economy is self-sufficient in production. B、individuals in a society are self-sufficient. C、fixed costs are large relative to variable costs. D、workers are able to specialize in a particular task.简答题Firms may experience diseconomies of scale when A、they are too small to take advantage of specialization. B、large management structures are bureaucratic and inefficient. C、there are too few employees, and managers do not have enough to do. D、average fixed costs begin to rise again.简答题When a firm is experiencing economies of scale, long-run A、average total cost is minimized. B、average total cost is greater than long-run marginal cost. C、average total cost is less than long-run marginal cost. D、marginal cost is minimized.简答题Jacqui decides to open her own business and earns 30,000, 45,000. What is Jacqui's economic profit from running her own business? A、-5,000 C、20,000简答题The length of the short run A、is different for different types of firms. B、can never exceed 3 years. C、can never exceed 1 year. D、is always less than 6 months.简答题On a 100-acre farm, a farmer is able to produce 3,000 bushels of wheat when he hires 2 workers. He is able to produce 4,400 bushels of wheat when he hires 3 workers. Which of the following possibilities is consistent with the property of diminishing marginal product? A、The farmer is able to produce 5,600 bushels of wheat when he hires 4 workers. B、The farmer is able to produce 5,800 bushels of wheat when he hires 4 workers. C、The farmer is able to produce 6,000 bushels of wheat when he hires 4 workers. D、Any of the above could be correct.简答题The long-run average total cost curve is always A、flatter than the short-run average total cost curve, but not necessarily horizontal. B、horizontal. C、falling as output increases. D、rising as output increases.简答题Economists assume that the goal of the firm is to maximize total A、revenue. B、profits. C、costs. D、satisfaction.简答题Total revenue equals A、marginal revenue - marginal cost. B、price/quantity. C、price × quantity. D、output - input.简答题Billy’s Bean Bag Emporium produced 300 bean bag chairs but sold only 275 of the units it produced. The average cost of production for each unit of output produced was 95. Total profit for Billy’s Bean Bag Emporium would be A、-26,125. C、30,000.简答题For a firm, the production function represents the relationship between A、implicit costs and explicit costs. B、quantity of inputs and total cost. C、quantity of inputs and quantity of output. D、quantity of output and total cost.简答题Industrial organization is the study of A、how labor unions organize workers in industries. B、which managers are the most successful. C、how industries organize for political advantage. D、how firms' decisions regarding prices and quantities depend on the market conditions they face.